Navigation Links
Verenium Announces Favorable Outcome of Capital Ventures International Lawsuit

CAMBRIDGE, Mass., Jan. 6, 2011 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today announced that the lawsuit filed by Capital Ventures International (CVI) against Verenium has been dismissed.  Verenium's motion for summary judgment to dismiss CVI's complaint was granted by the United States District Court for the Southern District of New York.  CVI's complaint related to a dispute over the terms of Verenium's 8% Senior Convertible Notes (the "Notes"), including the applicable conversion rate under the Notes, is more fully described in Verenium's annual report on Form 10-K for the fiscal year ended December 31, 2009 and subsequently filed quarterly reports on Form 10-Q.

"We are very pleased with this outcome, which confirms we acted in the best interests of the Company and our shareholders in defending our position in this case," said Carlos A. Riva, Chief Executive Officer of Verenium. "We continue to look forward to a successful and productive 2011."  

About VereniumVerenium Corporation is a pioneer in the development and commercialization of high-performance enzymes for use in industrial processes.  Verenium currently sells enzymes developed using its R&D capabilities to industrial customers globally for use in markets including grain and oilseed processing, biofuels, animal health and nutrition and other specialty industrial processes. Verenium has built a world-class R&D organization renowned for its capabilities in the rapid screening, identification, evolution and bioengineering of novel enzymes that act as catalysts for biochemical reactions. The company harnesses the power of nature and uses unique, patented technology to create products that transform industries by maximizing efficiency while improving environmental performance. For more information on Verenium, visit

Forward-Looking StatementsStatements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty.  These include, but are not limited to, statements related to Verenium's lines of business, operations, capabilities, commercialization activities, corporate partnerships, target markets and future financial performance, results and objectives, all of which are prospective.  Such statements are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements.  Factors that could cause or contribute to the differences include, but are not limited to, risks associated with Verenium's strategic focus, risks associated with Verenium's technologies, risks associated with Verenium's ability to obtain additional capital to support its planned operations and financial obligations, risks associated with Verenium's dependence on patents and proprietary rights, risks associated with Verenium's protection and enforcement of its patents and proprietary rights, the commercial prospects of the industries in which Verenium operates and sells products, Verenium's dependence on manufacturing and/or license agreements, and its ability to achieve milestones under existing and future collaboration agreements, the ability of Verenium and its partners to commercialize its technologies and products (including by obtaining any required regulatory approvals) using Verenium's technologies and timing for launching any commercial products and projects, the ability of Verenium and its collaborators to market and sell any products that it or they commercialize, the development or availability of competitive products or technologies, the future ability of Verenium to enter into and/or maintain collaboration and joint venture agreements and licenses, and risks and other uncertainties more fully described in Verenium's filings with the Securities and Exchange Commission, including, but not limited to, Verenium's annual report on Form 10-K for the year ended December 31, 2009 and any updates contained in its subsequently filed quarterly reports on Form 10-Q.  These forward-looking statements speak only as of the date hereof, and Verenium expressly disclaims any intent or obligation to update these forward-looking statements.Contacts:Kelly Lindenboom

Vice President, Corporate Communications


Sarah Carmody

Manager, Corporate Communications


SOURCE Verenium Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Verenium to Present at Piper Jaffray Sixth Annual Clean Technology & Renewables Conference
2. Verenium Reports Financial Results for the Third Quarter 2010
3. Verenium to Present at Jefferies 10th Global Clean Technology Conference
4. Verenium and Alfa Laval Announce Extension of Purifine® PLC Enzyme Agreement
5. Verenium Announces Regulatory Approval for Purifine® PLC in China
6. Verenium Launches DELTAZYM® GA L-E5 Enzyme for Fuel Ethanol Production
7. Verenium Appoints Kevin Bracken Vice President of Manufacturing
8. Verenium Announces Proposed Public Offering of Common Stock
9. Verenium 1:12 Reverse Stock Split Takes Effect
10. Verenium Announces Reverse Stock Split to Take Effect September 9
11. BP and Verenium Announce Vercipia Biofuels to Advance the Commercialization of Cellulosic Ethanol
Post Your Comments:
(Date:11/24/2015)... RALEIGH, N.C. , Nov. 24, 2015  Clintrax Global, Inc., ... Raleigh, North Carolina , today announced that the company has ... earnings represented a 391% quarter on quarter growth posted for Q3 ... Kingdom and Mexico , with the ... place in December 2015. --> United Kingdom ...
(Date:11/24/2015)... , November 24, 2015 SHPG ) announced ... in the Piper Jaffray 27 th Annual Healthcare Conference in ... 1, 2015, at 8:30 a.m. EST (1:30 p.m. GMT). --> ... Financial Officer, will participate in the Piper Jaffray 27 th ... NY on Tuesday, December 1, 2015, at 8:30 a.m. EST (1:30 ...
(Date:11/24/2015)... Nov. 24, 2015  Twist Bioscience, a company ... Leproust, Ph.D., Twist Bioscience chief executive officer, will ... on December 1, 2015 at 3:10 p.m. Eastern ... City. --> --> ... Twist Bioscience is on Twitter. Sign up to ...
(Date:11/24/2015)... - ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("ProMetic" ... , President and Chief Executive Officer of ProMetic, will be ... th Annual Healthcare Conference to be held at the ... st , at 8.50am (ET) and ProMetic,s management team ... presentation will be available live via a webcast accessible at ...
Breaking Biology Technology:
(Date:11/9/2015)... 2015  Synaptics Inc. (NASDAQ: SYNA ), the ... entry into the automotive market with a comprehensive and ... of consumer electronics human interface innovation. Synaptics, industry-leading touch ... the automotive industry and will be implemented in numerous ... , Japan , and ...
(Date:10/29/2015)... , Oct. 29, 2015 Daon, a ... that it has released a new version of its ... in North America have already ... v4.0 also includes a FIDO UAF certified server ... already preparing to activate FIDO features. These customers include ...
(Date:10/27/2015)... In the present market scenario, security is ... industry verticals such as banking, healthcare, defense, electronic gadgets, ... for secure & simplified access control and growing rate ... of bank accounts, misuse of users, , and so ... laptops, and smartphones are expected to provide potential opportunities ...
Breaking Biology News(10 mins):