Mazen, good to see you back.
Confirmation of SEPR's chiral strategy by this imitation:
biz.yahoo.com
Celgene Corporation Obtains First Patent for Chiral Agrochemical Compound
ANNANDALE, N.J., Feb. 8 /PRNewswire/ -- Celgene Corporation (Nasdaq: CELG - news) announced today that the company has been issued US Patent No. 5,866,512 for a chirally pure version of esprocarb for its agrochemical subsidiary, Celgro(TM). Esprocarb is a herbicide widely used in rice farming. The composition of matter patent is the first agrochemical patent awarded to the company, and follows its discovery that the major activity of the herbicide rests with the ''R'' isomer of the compound.
Celgro technology, when applied to agrochemicals that are currently sold as chirally impure mixtures, can potentially result in the doubling of product potency while halving environmental burdens. These benefits can be realized at favorable economics in large and cost-sensitive markets.
''Celgro's strategy is to focus on the discovery, development and commercialization of chirally pure crop protection agents in partnership with major agrochemical companies. This patent is the first of what we anticipate will be a substantial intellectual property estate in the chiral agrochemical area for Celgro,'' said Sol Barer, PhD., President and Chief Operating Officer of Celgene. ''The patent closely follows the company's previously announced signing of two major agreements for the application of our proprietary chiral technology to the manufacture of two existing crop protection chemicals. These accomplishments strengthen our technological base and can be expected to greatly enhance the value we afford both our commercial partners and shareholders.''
George Matcham, PhD., Senior Vice President of Celgro, noted, ''The production of the key chirally pure intermediate required for the new version of esprocarb covered in the patent could be cost-effectively achieved utilizing proprietary Celgro biocatalytic technology. This capability further strengthens the company's position for the chirally-pure versions of this important product. We currently aim to develop this compound in partnership with an important crop protection company.''
US Patent No. 5,866,512 is entitled ''Plant growth inhibition using the R-isomer of esprocarb.''
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