In addition, Grace will purchase an equity share in Amsterdam-based Avantium. In return, Grace expects to develop techniques it can use to reduce new product development cycles in all of its businesses. These new methods can cut the cycle time in half, and that is a substantial reward. But the real rewards are being first to market. Shorter development times can also lead to new discoveries and the patent protection that accompanies them.
Patents usually afford the discovering company an advantage in the marketplace.
In addition to Grace, Avantium's shareholders include Shell International Chemicals, SmithKline Beecham and GSE Technologies, a leading informatics company, as well as S.R. One, SmithKline's venture capital subsidiary, Alpinvest and The Generics Group. Delft University of Technology, Eindhoven University of Technology and the University of Twente.