Grainnet

Cambridge, MA—Verenium Corporation (NASDAQ:VRNM) , a pioneer in the development of next-generation cellulosic ethanol and high-performance specialty enzymes, announced Nov. 3 the successful closure of previously defined programs under its joint research collaboration with Syngenta Participations AG of Switzerland.

In connection with the completion of those programs, the parties have executed an agreement whereby Verenium gained additional exclusive rights to an array of proprietary biomolecules expressed microbially, as well as non-exclusive rights to the same biomolecules expressed through non-plant and non-microbial means, further bolstering its strong Specialty Enzymes product pipeline.

Syngenta will retain exclusive rights to the biomolecules expressed in plants, as well as nonexclusive rights to the same biomolecules expressed through non-plant, non-microbial means.

"We are very pleased with the success and productivity of our relationship with Syngenta," said Carlos A. Riva, President and Chief Executive Officer of Verenium.

"I'd like to acknowledge the significant amount of work that has been done over the last several years, and am enthusiastic about the exciting new product candidates that have been generated for both companies as a result of this collaboration."

As a result of this transaction, Verenium will receive license fees, including future royalties, for a commercial enzyme candidate licensed to a third party.

In addition, Verenium obtained microbial and non-plant rights to several late-stage enzyme development candidates, including:

• Alpha amylases and glucoamylases for starch processing in biofuels production;

• Xylanases and beta-glucanases for use in the animal feed industry; and

• Thermostable phytases also for use in the animal feed industry.

This class of enzymes is used commercially to release inorganic phosphate from plant material enhancing its nutritive value and reducing environmental phosphorus pollution.

The animal feed industry is the second largest market for enzymes, with an estimated 7% rate of underlying growth per year.

For more information, call 617-674-5335.

See Related Websites/Articles:

• Verenium Corp.
• Syngenta

more TOP STORIES...