Materia, Inc. and Evonik Reach Agreement on Catalyst License

PASADENA, Calif., Oct. 16, 2017 /PRNewswire/ -- Materia, Inc., a world leading supplier of high performance catalysts and advanced polymers, has entered into a license agreement with Evonik Industries, related to olefin metathesis catalysts, following a patent infringement case between the two companies.

Subject to the terms of the agreement, Evonik allows Materia to make and sell the catalysts that are covered by an injunction issued by the court in August of this year. The agreement also permits Materia's customers to use these catalysts in their products.

"We are pleased to enter into this mutually beneficial agreement with Evonik to ensure that Materia's entire Grubbs catalyst portfolio continues to be available to our customers globally," said Materia Chief Executive Officer, Nitin Apte. "This is an important step in the settlement process and we are encouraged to be moving forward."

The license agreement addresses Evonik's United States Patent Numbers 7,378,528, 7,652,145 and 8,153,810 and related U.S. and foreign patents and patent applications.

About Materia, Inc. 

Materia develops and manufactures catalysts and advanced polymers that solve complex problems facing today's chemical, electronic, energy, industrial, pharmaceutical and transportation companies. With applications ranging from pharmaceutical drugs to subsea oil and gas production to structural composites, Materia's Grubbs Catalyst^® technology and Proxima^® thermoset resins create differentiated value for its customers. For more information visit: http://materia-inc.com. 

SOURCE Materia, Inc.