Seal Sands Chemicals signs license agreement with BioCompatibles International
Seal Sands Chemicals, a company within the Health and Specialty Products division of newly formed Vertellus Specialties Inc., has reached an agreement with Biocompatibles International, plc to license its biocompatible polymer technology based on Phosphorylcholine (PC) derivatives. The transaction includes specific patent rights, process technology, applications and trademarks associated with the PC Technology...
INDIANAPOLIS, IN, July 12, 2006 -- Seal Sands Chemicals, a company within the Health and Specialty Products division of newly formed Vertellus Specialties Inc., has reached an agreement with Biocompatibles International, plc to license its biocompatible polymer technology based on Phosphorylcholine (PC) derivatives. The transaction includes specific patent rights, process technology, applications and trademarks associated with the PC Technology™.
"This is a great opportunity for Seal Sands," said Neil McLoughlin, Vice President of the Health and Specialty Products division Europe. "We have been commercially producing these novel polymer materials at our Seal Sands Chemicals UK site for a number of years. This agreement allows us to further capitalize on our manufacturing know-how and expanded capacity in this specialized technology by gaining direct market control of these materials."
Seal Sands has produced PC Technology™ materials primarily for the eye care
market, in which it is used in contact lenses to inhibit protein deposition and thereby reduce eye irritation and improve comfort.
"I'm delighted to be joining Vertellus and Seal Sands Chemicals," said Mike Driver, who will continue to be the Business Director under the newly formed Biomaterials business of Seal Sands. "The Biomaterials business has a robust new opportunity pipeline, and we will look to expand and develop these opportunities by leveraging Vertellus' manufacturing and marketing strengths."
Driver added, "The PC Technology™ platform is a market leader in many of its medical application areas and is ideally positioned to expand into other growing health and personal care market segments benefiting from favorable trends. Vertellus' intention is to broaden the technology platform to include applications both within and outside the medical field."
Seal Sands Chemicals specializes in providing tailored solutions in complex chemistries for the agriculture, pharmaceutical, personal care and biomaterial markets. Seal Sands is part of Rutherford Chemicals, which along with Reilly Industries, has merged to form Vertellus Specialties Inc., an Arsenal Capital Partners portfolio company.
Vertellus (www.vertellus.com) is a specialty chemicals company focused on the manufacture of high growth, high-value products to the agriculture, nutrition, pharmaceutical, personal care and performance materials markets. The company benefits from a global supply chain, a technologically advanced and flexible global manufacturing base, and maintains long-standing, contract relationships with significant blue-chip customers. It also holds a number of industry trademarks, registrations and patents. Vertellus has 750 employees globally and has headquarters in Indianapolis, IN.
Arsenal Capital Partners (www.arsenalcapital.com) invests in specialty product and services companies in industries where it has substantial prior experience and expertise and can support management teams to drive growth and improve productivity. Arsenal focuses on growing, niche markets within the healthcare and specialty industrial sectors, including specialty chemicals, aerospace/defense, pharmaceuticals, specialty components and distribution/logistics.