Akzo Nobel NV

NEW YORK--( BUSINESS WIRE )--Turnspire Capital Partners LLC (“Turnspire”) announced today that an affiliate has completed the acquisition of Pharmachem Innovations, LLC (“Pharmachem” or the “Company”), the former nutraceuticals business of Ashland Inc. (NYSE: ASH). Additionally, Turnspire Operating Partner Maurice Murphy has been appointed Executive Chairman, and Jeff Rogers has been appointed Interim Chief Executive Officer of Pharmachem. Pharmachem is a leading provider of proprietary nutrition ingredients and custom formulation services that supplies a broad portfolio of both active ingredients and formulation aids to nutritional product companies. The Company also offers custom formulation and contract manufacturing capabilities for the nutrition market, handling everything from formula design and ingredient sourcing to finished product manufacturing. Pharmachem has approximately 500 employees located at four production facilities in New Jersey and Utah in the United States, and Tamaulipas, Mexico. Mr. Murphy is an accomplished executive who has successfully led numerous private equity-owned businesses, including several carve-outs. He was President and Chief Executive Officer of UPG Company LLC, a Turnspire portfolio company from 2016 through 2022, executing a dramatic strategic, commercial and operational transformation that resulted in outsized returns for Turnspire investors. Mr. Rogers has deep domain expertise in nutraceuticals, with over 30 years of relevant executive, commercial and operational experience. He was President and Chief Operating Officer of Niacet Corporation from 2019 through 2023, significantly contributing to a very successful exit for its private equity sponsor. He previously served in progressively senior roles at National Starch & Chemical, Ashland and Lonza. Turnspire Managing Partner Ilya Koffman said, “ We are excited to acquire Pharmachem and its highly compelling formulation and manufacturing capabilities, underpinned by a broad portfolio of proprietary ingredients. Led by Maurice and Jeff, and with the benefit of Turnspire’s extensive experience transforming corporate carve-outs into thriving standalone companies, Pharmachem is well positioned to capitalize on attractive growth opportunities in its markets.” Mr. Murphy added, “ I am delighted to join Pharmachem and to once again partner with Turnspire, which has a fantastic track record of supporting management teams to create and grow best-in-class businesses. I look forward to working with Jeff and the talented employees to build on Pharmachem’s rich legacy as an innovator in the exciting and rapidly growing nutraceuticals space.” Winston & Strawn LLP acted as legal counsel and Piper Sandler & Co acted as financial advisor to Turnspire on the transaction. About Turnspire Capital Partners Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire’s investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its portfolio companies best-in-class in their respective industry niche, and then to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit www.turnspirecap.com .

TEWKSBURY, MA / ACCESSWIRE / April 25, 2024 / Cambridge Isotope Laboratories, Inc. (CIL) has acquired an additional 14.8 acres of land at its Cambridge Isotope Separations (CIS) Xenia, Ohio location. Mike Steiger, Vice President of Engineering and Project Execution for CIL, stated that the new land purchase will ensure easier access to utilities for future expansion. Cambridge Isotope Separations This newly acquired land is situated to the west of the 20 acres purchased in 2017, which is currently the site of the North Star expansion project. This recently completed project will greatly increase 13C production and is in the startup phase. North Star is the largest 13C separation facility ever built in the world and will significantly increase CIL's capacity ensuring customer reliability for this stable isotope. The land acquired provides the business flexibility to expand in the future as the demand continues to grow worldwide in all applications. "This investment shows CIL's commitment to innovation and growth for our customers," said CEO Cliff Caldwell. "CIL works closely with our diverse and global customers to develop and commercialize exciting, high-value applications for isotopically labeled compounds. As these applications commercialize, our customers rely on CIL's ability to scale our chemistry quickly and reliably. This land acquisition assures we have the space to continue meeting their expectations and enable these technology advancements." The CIS facility has the world's largest 13C separation facility, is one of the world's largest 18O isotope-separation facilities and houses the largest commercial D2O re-enrichment columns in the world. Stable isotopes, particularly deuterium, have seen an increase in commercial-scale applications in the last few decades. These applications include pharmaceuticals, semiconductors, flat panel displays, and other high-technology fields. CIL has a three-year supply contract with one Canadian source for D2O, as well as three other sources, and holds an average of an 18-24-month supply in four of CIL locations to ensure the most reliable supply. About Cambridge Isotope Laboratories, Inc. CIL is the world's largest manufacturer and global supplier of stable isotopes and stable isotope-labeled compounds used in research, environmental, neonatal, pharmaceutical, medical diagnostic, OLED, and industrial markets. CIL subsidiary ABX in Dresden, Germany, is active in the development and commercialization of radio isotopic-labeled compounds for the diagnosis and treatment of cancers. CIL is an operating business owned by Otsuka Pharmaceutical. The CIL business consists of two facilities in the Boston, Massachusetts, area; a large isotope-enrichment production plant in Xenia, Ohio; CIL China; CIL Canada; ABX in Dresden, Germany; and Eurisotop in Saclay, France. For more information on CIL, visit isotope.com. Contact Information Crissy Krisko crissyk@isotope.com 1.978.269.1930 SOURCE: Cambridge Isotope Laboratories, Inc. View the original press release on newswire.com.

An aerial shot of the AstraZeneca HQ in Cambridge, England. As it's announced AstraZeneca's CEO Pascal Soriot's package could rise by as much as US$24mn we explore the history of the UK's most valuable business AstraZeneca is the biggest UK-based business, with a market capitalisation of US$228bn. This week the Anglo-Swedish company approved a pay policy that will see CEO Pascal Soriot's package rise by as much as US$24mn. This will take his maximum annual bonus for 2024 to three times his base salary, and make him eligible for long-term performance-based share awards worth as much as 8.5 times his salary. It makes Soriot one of the best-paid executives among London's blue-chip FTSE 100 companies. AstraZeneca says the pay policy changes are necessary to increase competitiveness against its European peers and to “recognise leadership's critical role in achieving its long-term targets”. In the wake of the pay deal, we take a look at AstraZeneca – its history and some of the medical milestones it has achieved in that time. The history of AstraZeneca AstraZeneca, was founded in 1999, through the merger of Astra AB and Zeneca Group. Astra AB was a Swedish pharmaceutical company that was founded in 1913 by pharmacist Gustaf Dyrssen. Initially it produced dental and veterinary products, but later shifted focus to pharmaceuticals. In the 1950s, Astra expanded globally, entering the US market in the 1980s. Among its most important medicines were Nexium (esomeprazole), a proton-pump inhibitor used to treat gastroesophageal reflux disease and peptic ulcers, and Symbicort (budesonide/formoterol), a combination inhaler used to manage asthma and chronic obstructive pulmonary disease. Zeneca Group was established in 1993 through the demerger of Imperial Chemical Industries (ICI), which was focused on pharmaceuticals, agrochemicals and specialty chemicals. Its roots go back to 1923, when ICI formed its pharmaceutical division, and Zeneca grew through a series of acquisitions and research breakthroughs – notably cancer treatments including tamoxifen, used in the treatment of hormone receptor-positive breast cancer,  and Casodex (bicalutamide), used to treat prostate cancer. The merger between Astra AB and Zeneca The $33bn merger between the two companies in 1999 was a strategic move to create a stronger global presence and to bolster research and development capabilities. Astra's expertise in cardiovascular and gastrointestinal drugs was complemented by Zeneca's strengths in oncology and respiratory medicines, and the merger has seen AstraZeneca go on to become a leader in innovative healthcare solutions. Some of AstraZeneca’s landmark treatments since 1999 ‘Blockbuster drugs Crestor (rosuvastatin) for cholesterol management, Seroquel (quetiapine) for schizophrenia and bipolar disorder and Nexium (esomeprazole) for acid reflux. Important lung cancer treatments, such as Iressa (gefitinib), Faslodex (fulvestrant) and Tagrisso (osimertinib). Extensive R&D in areas such as cardiovascular diseases, respiratory conditions and oncology. The Oxford-AstraZeneca COVID-19 vaccine One of AstraZeneca’s most notable medical achievement was partnering with the University of Oxford to develop a COVID-19 vaccine known as AZD1222, or the Oxford-AstraZeneca vaccine. The company’s role in this was pivotal, and included funding, manufacturing and distributing the vaccine. It also played a key role in conducting clinical trials, obtaining regulatory approvals, and scaling up production to meet global demand. The vaccine was based on a viral vector platform, a technique that uses a modified virus – or vector virus – as a treatment delivery mechanism. The Oxford-AstraZeneca vaccine was approved for emergency use in January 2021, shortly after approval was received by the Pfizer-BioNTech and Moderna vaccines (both December 2020). AstraZeneca provided the vaccine on a not-for-profit basis during the pandemic, and collaborated with various organisations to ensure equitable access to vaccines globally.