The Chem Ledger #14: The Big Moves Shaping the Chemical and Allied Industries in 2025

Welcome to The Chem Ledger, your go-to source for the latest updates in the chemical and allied industries.

Three weeks into 2025, the chemical industry is already shaping up for an eventful year. In this edition, I explore key developments across materials science, pharmaceuticals, energy, and life sciences, along with the latest mergers and acquisitions. From innovation to market shifts, here's what's been making waves.

Materials

1. Xallent and MPI have announced a strategic partnership aimed at innovating and accelerating the development of next-generation artificial intelligence (AI) chips. This collaboration focuses on the launch of the Heterogeneous Integration Test System (HITS), which is designed to enhance testing capabilities for advanced semiconductor technologies. Together, the two companies aim to streamline the testing processes for chiplets and advanced packaging solutions, which are critical for the performance of AI chips.
2. BASF has announced the sale of its Styrodur business, which specializes in extruded polystyrene (XPS) insulation, to BACHL, a German manufacturer of insulation material. This move allows BASF to concentrate on its Neopor and Styropor brands of expandable polystyrene products.

Pharma

1. Orbis Medicines completed a Series A funding round, raising €90 million (approximately $93.4 million) to advance its pipeline of oral macrocycle drugs, referred to as "ⁿCycles". This funding will support the development of drugs targeting validated blockbuster biologic pathways, which are typically delivered by injection. The funding round was led by NEA (New Enterprise Associates), Eli Lilly and Company, Cormorant, the Export and Investment Fund of Denmark, Novo Holdings, and Forbion.
2. Nipocalimab, a treatment developed by Johnson & Johnson (J&J), has been granted Priority Review by the U.S. Food and Drug Administration (FDA) for the treatment of generalized myasthenia gravis (gMG). This Priority Review status was based on data from the Phase III Vivacity-MG3 trial, which demonstrated the drug's efficacy in reducing IgG antibodies, a key factor in the pathophysiology of gMG.
3. PureTech Health has received FDA Fast Track designation for its drug LYT-200, aimed at treating Acute Myeloid Leukemia (AML). This designation is intended to expedite the development and review process for drugs that address serious medical conditions with unfulfilled needs.
4. Zentalis Pharmceuticals has received FDA Fast Track designation for its drug azenosertib. This designation is specifically for treating patients with Cyclin E1-positive cancers, including platinum-resistant ovarian cancer. Zentalis is planning a virtual corporate event on January 29, 2025, to present updated data from ongoing clinical studies involving azenosertib.
5. Light Horse Therapeutics has completed a $62 million Series A financing round, which was announced on January 9, 2025. This financing was led by Versant Ventures, with participation from Mubadala Capital and strategic investors including Bristol-Myers Squibb, Taiho Ventures, and AbbVie. Light Horse's initial focus will be on historically challenging oncology targets followed by expansion into other therapeutic areas.
6. Iktos and Cube Biotech have announced a strategic collaboration aimed at advancing small molecule AI drug discovery. This partnership combines Iktos' expertise in AI-driven drug design and robotic synthesis with Cube Biotech's technologies for producing and purifying membrane proteins. The primary focus of this collaboration is to develop novel agonists of the Amylin Receptor, which could have significant implications for treating various metabolic disorders.

Energy 

1. Nippon Gases Deutschland and the HOYER Group have launched Germany's first hydrogen-powered truck specifically designed for transporting dry ice. This milestone was marked with the official handover of the vehicle on January 8, 2025, at the Nippon Gases in Hürth.
2. Sekisui Chemical is investing JPY 90 billion (approximately $574 million) to establish a 100 MW perovskite solar cell production line. This facility is set to be located in Sakai City, Osaka Prefecture, Japan, and is expected to begin operations by 2027. The production line will focus on creating lightweight and flexible perovskite solar cells. The project involves taking over the facilities of Sharp Corporation, which will provide the necessary infrastructure for the new production line.

Life Sciences

Labviva, an AI-powered procurement platform tailored for the life sciences sector, has secured $25 million in a Series B funding round. The platform connects suppliers, purchasing departments, and researchers, streamlining the procurement process and enabling cost and time savings for users.

M&A

1. J&J has announced its acquisition of Intra-Cellular Therapies for $14.6 billion, marking J&J's largest deal in recent years. This acquisition is aimed at enhancing J&J's portfolio in the neurological drug sector, particularly focusing on treatments for central nervous system disorders.
2. Jones-Hamilton Co. has announced the acquisition of Dallas-based Nexchlor LLC, a move aimed at enhancing its capabilities in hydrochloric acid (HCl) supply and logistics. This acquisition is part of Jones-Hamilton's focus to strengthen its position as a leading producer and marketer of HCl in North America.
3. The AZO Group has acquired Vedic Pac Systems in India. AZO Group specializes in the automated handling of raw materials, providing solutions for bulk material handling and process automation across various industries. Vedic Pac Systems is known for its expertise in delivering premium plants and turnkey solutions. This acquisition is expected to strengthen AZO's service offerings and customer support in the region.

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