{"id":82761,"date":"2020-12-16T06:59:31","date_gmt":"2020-12-16T05:59:31","guid":{"rendered":"http:\/\/rss.nova-institut.net\/public.php?url=https%3A%2F%2Fwww.biofuelsdigest.com%2Fbdigest%2F2020%2F12%2F07%2Fevonik-acquires-biomaterials-portfolio-from-alabama-firm%2F"},"modified":"2020-12-14T16:49:53","modified_gmt":"2020-12-14T15:49:53","slug":"evonik-to-acquire-birmingham-based-lactel-absorbable-polymers-from-durect-corporation","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/evonik-to-acquire-birmingham-based-lactel-absorbable-polymers-from-durect-corporation\/","title":{"rendered":"Evonik to acquire Birmingham-based LACTEL\u00ae Absorbable Polymers from DURECT Corporation"},"content":{"rendered":"<ul>\n<li><strong>Acquisition marks a consequential step in the growth agenda of Evonik\u2019s life-science division Nutrition &amp; Care<\/strong><\/li>\n<li><strong>Acquisition further expands Evonik\u2019s market-leading portfolio of functional excipients and biomaterials<\/strong><\/li>\n<\/ul>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-82965\" src=\"https:\/\/renewable-carbon.eu\/news\/wp-content\/uploads\/2020\/12\/259389-desktop-300x125.jpg\" alt=\"259389-desktop\" width=\"300\" height=\"125\" srcset=\"https:\/\/renewable-carbon.eu\/news\/media\/2020\/12\/259389-desktop-300x125.jpg 300w, https:\/\/renewable-carbon.eu\/news\/media\/2020\/12\/259389-desktop-1024x425.jpg 1024w, https:\/\/renewable-carbon.eu\/news\/media\/2020\/12\/259389-desktop-600x249.jpg 600w, https:\/\/renewable-carbon.eu\/news\/media\/2020\/12\/259389-desktop.jpg 1110w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Evonik has signed an agreement to acquire the LACTEL\u00ae business of biodegradable polymers from DURECT Corporation (Nasdaq: DRRX) for USD 15m. The transaction is expected to close by Q1 2021 pending the satisfaction of certain customary closing conditions. An offer will be extended to each of the 15 employees of DURECT located in Birmingham, Alabama, which are associated with the LACTEL\u00ae business to transition to Evonik.<\/strong><\/p>\n<p>\u201cThe acquisition of the Lactel\u00ae business will strengthen both our innovation growth field Healthcare Solutions and Evonik\u2019s position as a globally leading CDMO for drug delivery solutions\u201d, says Johann-Caspar Gammelin, Head of the Nutrition &amp; Care Division of Evonik. The acquisition of the LACTEL\u00ae business marks a consequential step in the growth agenda of the life-science division Nutrition &amp; Care. The LACTEL\u00ae business will benefit from fast-growing markets such as advanced drug delivery, biomaterials for tissue engineering, and the 3D printing of implantable medical devices.<\/p>\n<p>\u201cIt has been a pleasure working with the highly motivated and talented LACTEL\u00ae team. We have confidence that Evonik will apply its resources and commitment to excellence to enable the LACTEL\u00ae product line and supporting team members to thrive,\u201d says James E. Brown, President and Chief Executive Officer of DURECT Corporation. With Evonik\u2019s global reach, existing and new customers will benefit from tapping into Health Care\u2019s twelve global laboratories staffed with formulation, application and regulatory experts to assist in bringing their products faster to the market.<\/p>\n<p>\u201cThe integration of the LACTEL\u00ae business into Evonik\u2019s market-leading portfolio of functional excipients, biomaterials and integrated CDMO services will strengthen our position as a preferred development partner and solutions provider for pharmaceutical and medical device customers,\u201d says Thomas Riermeier, Head of the Health Care business line. \u201cBy welcoming LACTEL\u00ae and members of their team into the Evonik family, we look forward to providing customers with even greater platform versatility as well as other value-adding services.\u201d<\/p>\n<p>Poly(lactide-co-glycolide) (PLG or PLGA) polymers are widely used as a functional excipient to control the release of parenteral drug products. They are also utilized to control the biodegradation of implantable medical devices across various orthopedic, cardiovascular, wound healing and other applications. RESOMER\u00ae and LACTEL\u00ae are two of the most preferred brands of standard and custom PLGA polymers.<\/p>\n<p>Evonik has signed an agreement to acquire the LACTEL\u00ae business of biodegradable polymers from DURECT Corporation (Nasdaq: DRRX) for USD 15m. The transaction is expected to close by Q1 2021 pending the satisfaction of certain customary closing conditions. An offer will be extended to each of the 15 employees of DURECT located in Birmingham, Alabama, which are associated with the LACTEL\u00ae business to transition to Evonik.<\/p>\n<p>\u201cThe acquisition of the Lactel\u00ae business will strengthen both our innovation growth field Healthcare Solutions and Evonik\u2019s position as a globally leading CDMO for drug delivery solutions\u201d, says Johann-Caspar Gammelin, Head of the Nutrition &amp; Care Division of Evonik. The acquisition of the LACTEL\u00ae business marks a consequential step in the growth agenda of the life-science division Nutrition &amp; Care. The LACTEL\u00ae business will benefit from fast-growing markets such as advanced drug delivery, biomaterials for tissue engineering, and the 3D printing of implantable medical devices.<\/p>\n<p>\u201cIt has been a pleasure working with the highly motivated and talented LACTEL\u00ae team. We have confidence that Evonik will apply its resources and commitment to excellence to enable the LACTEL\u00ae product line and supporting team members to thrive,\u201d says James E. Brown, President and Chief Executive Officer of DURECT Corporation. With Evonik\u2019s global reach, existing and new customers will benefit from tapping into Health Care\u2019s twelve global laboratories staffed with formulation, application and regulatory experts to assist in bringing their products faster to the market.<\/p>\n<p>\u201cThe integration of the LACTEL\u00ae business into Evonik\u2019s market-leading portfolio of functional excipients, biomaterials and integrated CDMO services will strengthen our position as a preferred development partner and solutions provider for pharmaceutical and medical device customers,\u201d says Thomas Riermeier, Head of the Health Care business line. \u201cBy welcoming LACTEL\u00ae and members of their team into the Evonik family, we look forward to providing customers with even greater platform versatility as well as other value-adding services.\u201d<\/p>\n<p>Poly(lactide-co-glycolide) (PLG or PLGA) polymers are widely used as a functional excipient to control the release of parenteral drug products. They are also utilized to control the biodegradation of implantable medical devices across various orthopedic, cardiovascular, wound healing and other applications. RESOMER\u00ae and LACTEL\u00ae are two of the most preferred brands of standard and custom PLGA polymers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Acquisition marks a consequential step in the growth agenda of Evonik\u2019s life-science division Nutrition &amp; Care Acquisition further expands Evonik\u2019s market-leading portfolio of functional excipients and biomaterials Evonik has signed an agreement to acquire the LACTEL\u00ae business of biodegradable polymers from DURECT Corporation (Nasdaq: DRRX) for USD 15m. The transaction is expected to close by [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[10503,8793,11592],"supplier":[2280,43],"class_list":["post-82761","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-biodegradable","tag-biomaterials","tag-polymers","supplier-durect-corp","supplier-evonik-industries-ag"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/82761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=82761"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/82761\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=82761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=82761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=82761"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=82761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}