Boron opens new lab, suggests IPO possible

Melbourne company Boron Molecular has named its new research laboratory in honour of the Japanese scientist whose reaction, the Suzuki Coupling, underpins the company's technology.

Akira Suzuki, who is professor emeritus at Hokkaido University in Japan, visited the company last week where he opened the new laboratory.

"We named it in honour of a great scientist who has made substantial contributions to chemistry," said managing director Dr Phil Reese.

Suzuki coupling is used widely in chemical research and industry to make organic compounds by coupling two molecules in the presence of a catalyst. Boron Molecular's technology, originally developed at CSIRO, allows synthesis of complex molecules using organoboron-based Suzuki coupling reactions. The company provides both compounds and contract chemistry services to the global pharmaceutical industry.

"We've got additional technology that our scientists have developed and patented, covering processes and around 250 organoboron compounds," said Reese. "It's a valuable building block for pharmaceuticals."

Boron's new laboratory is part of the Noble Park facility the company moved into in September last year, and will be used principally for organoboron research, according to Reese. The company also has a production facility for the scale-up and production of organoborons and other molecules.

He said the significance of having Suzuki visit the company was two-fold, as the company made organoborons for use in Suzuki coupling reactions, but also used the Suzuki reaction to make coupled compounds for customers.

Boron Molecular concluded a placement of $AUD1.9 million earlier this year, bringing to $4.9 million the total investment in the company. According to Reese, Boron is working toward an initial public offering, which it hopes to complete later this year if market conditions are favourable.