NEW YORK, April 14 /PRNewswire/ -- Sumitomo Corporation of America (SCOA) has reached an agreement with Chiral Quest, Inc., a manufacturer and developer of chiral products using proprietary chiral technologies, for the distribution and sale of chiral products to the pharmaceutical industry.
Effective immediately, Sumitomo will be the exclusive sales agent for Chiral Quest in Japan and selected worldwide accounts.
More than 40 percent of the ethical drugs manufactured today utilize chiral intermediate technology. Chiral chemocatalysts play a key role in the manufacture of medicines, fine chemicals, agricultural chemicals, and flavors and fragrances.
"Chiral Quest is now in an expansion phase, and Sumitomo's international network of marketing and distribution facilities will enable us to provide our specialty chiral molecules quickly to pharmaceutical manufacturers globally at competitive prices," said Dr. Joseph Marasco, CEO of Chiral Quest. "This is a venture that will be welcomed by the chiral molecule marketplace, and will allow us to efficiently serve our growing client base."
Chiral Quest has wholly owned patents on a range of innovative chemical catalysts and processes used in the synthesis of chiral molecules. The company's primary laboratory and manufacturing facilities in New Jersey and China will now be supported by Sumitomo's extensive marketing capability and distribution network. Additional information on Chiral Quest is available at their website http://www.chiralquest.com/.
"Sumitomo has been a major supplier to the global pharmaceutical industry for over the past four decades," noted Yasunori Ishibashi, senior director of the SCOA Medical Sciences Group. "This collaboration makes it possible for Sumitomo to play a significant role in the innovative and growing field of chiral technology."
Sumitomo's established supply chain provides chemicals for a range of manufacturing processes. The company's chemical experts help specific clients in the field select and implement the most efficient synthesis process for producing specific molecules.
The catalytic asymmetric hydrogenation process was discovered in 1987 by Dr. Ryoji Nyori. Over the past two decades, Nyori chiral technology has evolved rapidly and become widely applied in chemocatalysis. It has been especially valuable in the manufacture of chiral pharmaceutical products and fine chemicals. In 2001 Dr. Nyori shared the Nobel Prize in Chemistry with William S. Knowles for their work in the study of chirally catalyzed hydrogenation.
Sumitomo's global network includes 148 offices in 67 countries. Sumitomo also provides unique expertise in the import and export business.
Through its global network for sales and distribution, Sumitomo has become a major resource for pharmaceutical companies. Sumitomo provides raw materials, production facilities, R&D facilities and various technical process support to major manufacturers in the pharmaceutical industry.
About Sumitomo Corporation of America
Sumitomo Corporation of America (SCOA), is a fully integrated trading and investment enterprise with offices in 11 major U.S. cities. SCOA is the largest wholly owned subsidiary of Sumitomo Corporation (SC), an integrated global trading firm with diversified investments and businesses. Established in 1952, and headquartered in New York, SCOA is involved in a wide range of industries, including working on a global scale with SC and subsidiaries to expand on emerging opportunities in the pharmaceutical industry. www.sumitomocorp.com
SOURCE Sumitomo Corporation of America