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Published:
Chemtura and Venomix Extend CollaborationMIDDLEBURY, Conn. andKALAMAZOO, Mich., Aug. 20 /PRNewswire/ -- Chemtura Corporation (NYSE: CEM) and Venomix, Inc. have agreed to extend their collaboration on the development of insecticides based on spider venom peptides, the companies announced today. The companies began their collaboration in 2006. Since then, Chemtura has made payments to Venomix for the achievement of scientific milestones. During the extended collaboration, the companies will agree annually on research milestones and payments. The financial terms of the original agreement and the extension have not been disclosed. The collaboration centers on the discovery that peptides contained in spider venom have insecticidal properties. Venomix has isolated and characterized a number of these peptides, which are lethal to insects but harmless to non-target species, including humans. One of these peptides, designated "hybrid," is the object of the collaboration. The first goal of the collaboration is to develop the "hybrid" peptide as a commercial insecticide. Longer term, the companies will collaborate to produce small, chemical molecules that "fit" the same receptor as the "hybrid" peptide. This is expected to lead to chemical pesticides with the same biological activity and safety profile as the "hybrid" peptide. Chemtura Corporation, with 2007 sales of Venomix is developing a new generation of insecticides using peptides from
spiders. The company's technology is based on ground-breaking research
conducted at the SOURCE Venomix, Inc. Tags: ,MTC,AGR,HOU,HEA,JVN,MI-Venomix-Collaborat _ _Is your favorite bookmark site missing? Ask for it. |
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