DuPont and DSM Announce Joint Venture in Surgical Biomedical Materials

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Sep 23, 2010, 02:15 ET

WILMINGTON, Del., and HEERLEN, Netherlands, Sept. 23 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD) and Royal DSM N.V. announce an agreement to form a joint venture to develop, manufacture and commercialize advanced surgical biomedical materials, pending European Union regulatory approval. The joint venture will be named Actamax Surgical Materials LLC. Under the joint venture agreement, DuPont and DSM will each share a 50 percent interest.

The joint venture will address the market for surgical sealants, adhesion barriers and tissue adhesives – a large and underserved market of more than 100 million annual surgical procedures worldwide. The outcome of many surgical procedures could be positively impacted using next-generation materials under development by the joint venture.

Actamax Surgical Materials LLC will build a comprehensive biomedical product portfolio based on several patent-protected biodegradable hydrogel technologies. The early technology development was completed using DuPont materials science and biotechnology capabilities. Commercialization will rely on the medical polymer processing and manufacturing capabilities of DSM.

The activities of the joint venture fit with the DSM biomedical materials portfolio in which the company, through its DSM Biomedical unit, has rapidly built a leading position in the past few years. Actamax Surgical Materials LLC is a strategic component of the DuPont Applied BioSciences business, which integrates biotechnology with other sciences to create products that can transform large, addressable markets. The joint venture will focus on the clinical validation of the products and technology, and commercialization will include manufacture and sale of proprietary products as well as the establishment of joint development relationships with leading device companies.

"Our platform of technologies will offer physicians and patients improved outcomes of surgery that will prevent post-operative complications while reducing health care costs," said John Ranieri, vice president – DuPont Applied BioSciences. "Actamax will deliver a number of products that can be optimized for different surgical situations and clinical needs. The success DSM has had in the biomedical materials market makes them an ideal strategic partner for us to commercialize our technology portfolio."

"The cooperation with DuPont is a great way to further boost our activities in the biomedical field," said Christophe J. Dardel, president – DSM Biomedical. "In line with our open innovation strategy, this will allow us to combine the strengths of two leading companies to develop solutions to better address patient needs through material innovations."

For more information, visit www.actamax.com.

Royal DSM N.V. creates solutions that nourish, protect and improve performance. Its end markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrical and electronics, life protection and housing. DSM manages its business with a focus on the triple bottom line of economic performance, environmental quality and social responsibility, which it pursues simultaneously and in parallel. DSM has annual net sales of about 8 billion pounds and employs some 22,700 people worldwide. The company is headquartered in the Netherlands, with locations on five continents. DSM is listed on Euronext Amsterdam. More information: www.dsm.com

DuPont (www.dupont.com) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

DSM Forward-Looking statements

This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.

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