The Capital Community Angels are investing more than $250,000 in BoroPharm, a Michigan State University (MSU) spinoff that manufactures and commercializes boronic acids and esters.
Through BoroPharm,
MSU Chemistry Professors Robert Maleczka and Milton Smith have
developed several hundred compounds that will most likely be used by
pharmaceutical companies to make new drugs. So far, the unique
compounds have been quite a success.
“We’re getting orders from Austria, India. . . you name it,” Maleczka says.
The Environmental Protection Agency (EPA)
also honored Maleczka and Smith with the 2008 Presidential Green
Chemistry Challenge award for making significant innovations in
pollution prevention.
The duo won the award
for discovering a way to streamline the manufacturing of chemical
building blocks, eliminating the need for environment-threatening
starting materials and significantly reducing the amount of hazardous
waste associated with the production process.
Their
discovery allows pharmaceuticals, pesticides and other complex
substances to be manufactured with minimal waste and impact on the
environment.
“Our technology makes the
process more efficient and produces only hydrogen gas as the byproduct,
so it is a win-win for companies to save money and reduce their impact
on the environment,” Smith said.
Smith and Maleczka also received $1.38 million from Michigan’s 21st Century Jobs Fund to increase production of the patented chemical compounds and advance the research to the marketplace.
“In
spite of the difficult times, the entrepreneurial spirit, forward
thinking and creativity are alive in our region, albeit still fairly
discreetly,” says Loïc Couraud, founder and administrator of the Angels
group. “The ventures we invest in today will create tomorrow’s
highly-skilled jobs.”
Source: Robert Maleczka, BoroPharm
Ivy Hughes, development news editor, can be reached here.
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