Verenium and Syngenta Close Research Collaboration

3 November 2009

Verenium Corporation, a cellulosic ethanol developer and high-performance specialty enzyme company, announced the successful closure of previously defined programs under its joint research collaboration with Syngenta Participations AG of Switzerland. (Earlier post.)

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.

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.