PRINCETON, N.J., July 14 /PRNewswire-FirstCall/ -- Chiral Quest, Inc. - (BULLETIN BOARD: CQST) -- today announced that it has entered into a Strategic Technology Collaborative Agreement with DSM Pharma Chemicals, The Netherlands. Both companies plan to work together to further develop applications of Chiral Quest's catalytic products and technology.
The purpose of this agreement is to establish a collaborative relationship between Chiral Quest, Inc. and DSM, where Chiral Quest, Inc. agrees to provide certain of its proprietary catalytic products and technology to DSM to be used in the manufacture of intermediates in the life sciences sector. Chiral Quest will grant to DSM a license to use its proprietary homogeneous Catalyst Systems in DSM's research screening programs.
"We are very pleased that DSM, a global leader in chemical custom manufacturing, has recognized Chiral Quest's technology for its use in developing new products," said Chiral Quest CEO Ronald Brandt. "This agreement shows that there is a great potential for our technology and we are delighted to add DSM to our growing network of partners."
"We are excited about using Chiral Quest as a supplier of catalytic products," said Dr. Ronald Gebhard, R&D Director of DSM Pharma Chemicals. "The Chiral Quest products are complementary to our in-house libraries of ligands and will allow us to broaden our products offerings to our customers in the life sciences industry"
About Chiral Quest
Chiral Quest is a research-based life sciences chemistry company that provides chiral products, technology and services to the pharmaceutical and fine chemical industries. The Company develops chemical catalysts and other products used in the synthesis of desired isomers of chiral molecules. For more information, visit http://www.chiralquest.com/.
About DSM Pharma Chemicals
DSM Pharma Chemicals is one of the three business units of DSM Pharmaceutical Products. It develops and produces pharmaceutical intermediates and active ingredients, mostly on exclusive basis. Its development and production facilities are based in Venlo (the Netherlands), Linz (Austria), and South Haven (USA). For more information visit http://www.dsmpharmaceuticalproducts.com/.
This press release contains forward-looking statements that involve risks and uncertainties that could cause Chiral Quest's actual results and experience to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there can be no assurances that any of Chiral Quest's research programs and compounds will be successfully commercialized. Risks, uncertainties and assumptions also include the possibility that the market for the sale of certain products may not develop as expected; and that development of these products may not proceed as planned. Chiral Quest assumes no obligation and does not intend to update these forward-looking statements.
Chiral Quest, Inc.
CONTACT: Ronald Brandt of Chiral Quest, Inc., +1-732-274-0399; orInvestor Relations, Thomas Fechtner of The Trout Group, +1-212-477-9007, ext.31; or Ronald Gebhard, R&D Director of DSM Pharma Chemicals, +31-46-4770046,or+31-6-51272846, or fax: +31-46-4773264, firstname.lastname@example.org