DuPont and DSM Announce Joint Venture in Surgical Biomedical Materials
WILMINGTON, Del., and HEERLEN, Netherlands, Sept. 23 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD) and Royal DSM N.V. announce an agreement to form a joint venture to develop, manufacture and commercialize advanced surgical biomedical materials, pending European Union regulatory approval. The joint venture will be named Actamax Surgical Materials LLC. Under the joint venture agreement, DuPont and DSM will each share a 50 percent interest.
The joint venture will address the market for surgical sealants, adhesion barriers and tissue adhesives – a large and underserved market of more than 100 million annual surgical procedures worldwide. The outcome of many surgical procedures could be positively impacted using next-generation materials under development by the joint venture.
Actamax Surgical Materials LLC will build a comprehensive biomedical product portfolio based on several patent-protected biodegradable hydrogel technologies. The early technology development was completed using DuPont materials science and biotechnology capabilities. Commercialization will rely on the medical polymer processing and manufacturing capabilities of DSM.
The activities of the joint venture fit with the DSM biomedical materials portfolio in which the company, through its DSM Biomedical unit, has rapidly built a leading position in the past few years. Actamax Surgical Materials LLC is a strategic component of the DuPont Applied BioSciences business, which integrates biotechnology with other sciences to create products that can transform large, addressable markets. The joint venture will focus on the clinical validation of the products and technology, and commercialization will include manufacture and sale of proprietary products as well as the establishment of joint development relationships with leading device companies.
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