New Iridium develops organic photoredox catalyst technology. Developed over the past decade, photoredox catalysis is at the cusp of empowering the next wave of chemical innovation extending beyond the widely used palladium chemistry in small molecule transformations. For the pharmaceutical industry, photoredox catalysis offers significant cost benefits that alleviate the acute pain points of high cost structure and long development cycles for drug development (approx. $3B/drug and up to 10 years). Compared to traditional heat-driven chemistry, the light-driven photoredox catalysis enables: âEfficient generation of new drug leads (faster drug development) in medicinal chemistry. Drastic reduction in the number of synthetic steps (lower manufacturing costs) in process chemistry New Iridium commercializes low-cost and yet high-performance organic photoredox catalysts (PCs) to enable industrial scale photoredox catalysis by addressing the supply and cost issues associated with precious metal iridium or ruthenium PCs. Developed from the Miyake lab (jointly at the University of Colorado Boulder and Colorado State University; pending US patent 15/960,086), New Iridium's dihydrophenazine and phenoxazine organic PC products were engineered as strong excited state reductants for oxidative quenching applications.
