CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Metabolix, Inc. (NASDAQ: MBLX), a bioscience company focused on bringing
environmentally sustainable solutions to the plastics, chemicals and
energy industries, today announced that it has granted a non-exclusive
license to NatureWorks LLC for the U.S. patent No. 5,883,199, titled
"Polylactic Acid-based Blends," to make, use and sell blends of
polylactic acid (PLA) with certain other polymers including polybutylene
succinic polymers (PBS). The University of Massachusetts Lowell is the
owner of the ‘199 patent, and Metabolix, Inc. is the exclusive licensee
in the relevant field. NatureWorks and the biochemicals company BioAmber
recently announced a joint venture which will support NatureWorks in
bringing to market new performance Ingeo polymer compositions.
"This research greatly expands the uses of PLA in biodegradable plastics
because the blends allow for a stronger, more flexible form. The basis
of my research is to improve the potential uses for PLA because it is
made from renewable natural resources rather than oil, and is
environmentally friendly," said inventor and patent-holder Stephen
McCarthy, a professor of plastics engineering at UMass Lowell and
director of the university's Bioplastics Research Center. The exclusive
license agreement was negotiated on behalf of the university with
Metabolix by UMass Lowell's Office of Commercial Ventures and
Intellectual Property.
"As a leader in the development of biobased polymer technology, we have
assembled a broad intellectual property portfolio covering key elements
of making and using advanced biomaterials, including biopolymer blends,"
commented Richard P. Eno, President and CEO of Metabolix. "For areas
outside of our technical and commercial focus, we are amenable to
licensing arrangements that provide Metabolix the opportunity for a
financial participation and pave the way for the introduction of new
materials to the marketplace."
About NatureWorks LLC
NatureWorks LLC is a company dedicated to meeting the world's needs
today without compromising the earth's ability to meet the needs of
tomorrow. NatureWorks LLC is the first company to offer a family of
commercially available, low-carbon footprint Ingeo biopolymers derived
from 100 percent annual renewable resources with performance and
economics that compete with oil-based plastics and fibers. In October
2011, Thailand's largest chemical producer, PTT Chemical Public Company
Limited, entered into an agreement to make a $150 million equity
investment in NatureWorks. The transaction remains subject to regulatory
clearances. For more information on NatureWorks and Ingeo, visit www.natureworks.com.
About University of Massachusetts Lowell
UMass Lowell is a comprehensive, national research university located on
a high-energy campus in the heart of a global community. The campus
offers its 15,000 students bachelor's, master's and doctoral degrees in
education, engineering, fine arts, health and environment, humanities,
liberal arts, management, sciences and social sciences. UMass Lowell
delivers high-quality educational programs, vigorous hands-on learning
and personal attention from leading faculty and staff, all of which
prepare graduates to be ready for work, for life and for all the world
offers. www.uml.edu.
About Metabolix
Founded in 1992, Metabolix, Inc. is an innovation-driven bioscience
company focused on providing sustainable solutions for the world's needs
for plastics, chemicals and energy. The Company is taking a systems
approach, from gene to end product, integrating sophisticated
biotechnology with advanced industrial practice. Metabolix is developing
biobased industrial chemicals and plastics, as well as a proprietary
platform technology for co-producing plastics, chemicals and energy,
from crops. For more information, please visit www.metabolix.com.
(MBLX-E)
Metabolix: Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made
pursuant to the safe harbor provisions of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. The forward-looking statements in this release do
not constitute guarantees of future performance. Investors are cautioned
that statements in this press release which are not strictly historical
statements, including, without limitation, statements regarding future
licensing opportunities, constitute forward-looking statements.
Such forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially from
those anticipated and are detailed in Metabolix's filings with the
Securities and Exchange Commission, including its 10-K for the year
ended December 31, 2011, which was filed on March 12, 2012. Metabolix
assumes no obligation to update any forward-looking information
contained in this press release or with respect to the announcements
described herein.
NatureWorks
Steve Davies, 952-562-3343
Steve_Davies@natureworksLLC.com
or
UMass
Lowell
Christine Gillette, 978-934-2209
Christine_Gillette@uml.edu
or
Metabolix
Media:
Lynne H. Brum, 617-682-4693
LBrum@metabolix.com
or
Schwartz
MSL Boston
Keith Giannini or Kirsten Swenson, 781-684-0770
metabolix@schwartzmsl.com
or
Investor
Relations Inquiries:
ICR
James R. Palczynski, 203-682-8229
james.palczynski@icrinc.com
Source: Metabolix, Inc.
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