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Verenium and Novus International Inc. Announce Agreement to Develop and Commercialize Animal Nutrition Enzymes
Date:6/27/2011

markets;
  • The global partnership will include equal management representation from Verenium and Novus to direct various activities, including budgeting, development and marketing plans;
  • The companies will partner equally to fund development and commercialization and share in the profits, as well as provide other resources and expertise that would otherwise have been funded solely by Verenium;
  • Verenium will receive license payments of $2.5 million upon signing and $2.5 million following regulatory filings or commercial activity; and
  • In the marketplace, all products will be co-branded by Verenium and Novus.

  • About The Animal Health and Nutrition MarketEnzymes are used in the animal health and nutrition market to allow livestock, poultry, aquaculture and companion animals to more readily digest and absorb the nutrients naturally occurring in grains and protein meals.  According to industry reports in the animal health and nutrition market, enzymes are experiencing remarkable growth due to their ability to provide better nutrition and an improved environmental impact.  Global sales of animal feed enzymes are estimated to have reached $520 million in 2010, and are expected to grow 6 to 7 percent annually to reach over $720 million by 2015, making it one of the largest and fastest growing markets for industrial enzymes.  Given the trends of global population growth, increased meat consumption in emerging markets and increased grain prices leading to higher feed costs for producers, enzymes are an effective means of improving the sustainability of animal production both economically and environmentally.

    About VereniumVerenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes.  Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel market
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    SOURCE Verenium Corporation
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