Founded as a small chemically-oriented company with sophisticated, membrane technology expertise, the original Moleculon Research Corporation was established by the principals right across the road from MIT in Cambridge MA where the President had just completed his graduate work. After being extensively involved in the development of the original concept of SBIR, the firm was an early participant in the pilot effort in NSF, having received two of the first 42 SBIR awards made. Though almost always behind the scenes and wih no effort to take any of the credit, the husband and wife principals of the firm were major players in achieving the highly controvesial expansion of SBIR to all agencies. Subsequently SBIR involved on a very limited basis, with some of that SBIR supported early work, the firm became more successful commercially when they developed a new membrane nanotechnology for controlled release drug delivery products. During that time, a spin-off of the original company called Moleculon BioTech went public in the Fall 1983 at a time when IPOs were only just becoming an option. Their IPO raised $5M. The firm achieved a strong European presence very early in its life and had working collaborations in place with several major and mid-sized pharmaceutical companies of the day. Subsequently, an Australian pharmaceutical company made a major investment in the firms and eventually acquired the whole firm. The original company still exists as a holding company owned entirely by Arthur Obermayer and having no operations.
