Founded by renowned Harvard chemist, nanotech expert and Genzyme co-founder, George Whitesides, Surface Logix is best known for developing the Pharmacomer Technology Platform, which enables the discovery of new, highly-optimised small molecule drugs, and the rapid identification of pre-clinical drug candidates.
Myer Berlow, CEO of Nano Terra, explained the background behind the deal.
“Surface Logix is an excellent fit for Nano Terra, since our business was also built on intellectual property from the Whistesides lab,” he said, “We think we can achieve significant synergies through our proven co-development model. This acquisition opens the door to the use of Nano Terra’s technology in a variety of healthcare products.
“This is an area where microfabrication and surface chemistry offers tremendous promise in dramatically improving the functionality of healthcare products. It’s a logical extension of our business,” he added.
Commenting on the deal, Keith Dionne, Surface Logix’s president and CEO, said: “The combination of our promising therapies and Nano Terra’s ability to identify and recruit and fully partner with major companies will, we believe, bring life-saving and life-enhancing products more quickly to the people who need them.”
The terms of the agreement were not disclosed.
In the past Nano Terra has collaborated with a number of high-profile project partners - including pharma giant, Merck – on micro and nano-tech innovations, but Berlow said the company has always intended to develop products of its own.
The company claims its scientific methods can be used to fabricate advanced materials and devices to enhance existing products, or create entirely new products in a broad range of areas.
Last December Nano Terra raised $17.2m in an equity and rights funding round, with Berlow and Whitesides investing $3m. Whitesides is also co-founder of Nano Terra and acts as chairman and head of its scientific advisory board.