First Product Candidate Moving Toward Commercialization as Result of Novus
International and Verenium Collaboration
-- Key milestone in developing next-generation enzymes for animal health and
ST. LOUIS and SAN DIEGO, Jan. 23, 2012
ST. LOUIS and SAN DIEGO, Jan. 23, 2012 /PRNewswire/ -- Novus International
Inc., a leading manufacturer of animal and human nutrition and health products
and Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology
company focused on the development and commercialization of high-performance
enzymes, today announced the selection of a next-generation phytase as the
first enzyme candidate from the two companies' strategic collaboration to
advance toward commercialization. The companies embarked on a strategic
partnership in June of last year to develop a suite of new enzyme products
from Verenium's late-stage pipeline in the animal nutrition and health area
"This partnership has enabled us to create enzyme solutions for nutritionists,
producers and others who want to optimize nutrition. This product is geared
toward use in poultry, pork and aquaculture product," notes Novus
International President and Chief Executive Officer Thad Simons. "We're
pleased to be a valued partner in optimizing nutrition and, as a result,
lowering feed costs for our customers through cutting-edge enzyme solutions
like this one."
Reducing the amount of phytate-bound phosphorus is key in helping livestock
producers reduce the impact of animal production on the environment. The
phytase enzyme being developed as part of this collaboration will help
nutritionists and producers feed more efficiently and get the most out of
"This product is indicative of significant progress we've made so far in our
partnership with Novus, having exceeded important technical milestones ahead
of schedule.This early success is a result of combining our leading
development capabilities with Novus' in-depth knowledge of customer needs.
It's an early validation of the synergies between our two companies," said
James Levine, President and Chief Executive Officer at Verenium."Looking
ahead, we anticipate advancing additional product candidates and
commercializing a suite of differentiated enzyme products that deliver
superior performance and make a significant impact on the animal health and
In addition to the next-generation phytase, the collaboration also has three
additional products in late-stage development targeted at this market.
About The Animal Health and Nutrition Market
Enzymes 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, enzymes in the animal health and nutrition market 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 more than $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.
Verenium, 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
markets.Read more at www.verenium.com.
Novus International Inc. is headquartered in metropolitan St. Louis, Mo.,
U.S.A. and serves customers in more than 90 countries around the world. An
industry leader in animal nutrition and health, Novus's products include
CIBENZA™ feed enzymes, ALIMET^® and MHA^® feed supplements, ACTIVATE^®
nutritional feed acid, ACIDOMIX^® preservative premix, , MINTREX^® and MAAC^®
chelated trace minerals, SANTOQUIN^® feed preservative, MERA™MET aquaculture
feed additive, AGRADO^® feed ingredient and many other specialty ingredients.
Arenus (www.arenus.com) is a division of Novus Nutrition Brands, LLC (a
subsidiary of Novus International, Inc.), that focuses on developing health
and dietary supplements for the equine and companion animal markets. Stratum^®
Nutrition, a division of Novus Nutrition Brands, LLC, focuses on human
nutrition through specialty and functional ingredients for manufacturers of
foods, beverages and dietary supplements (www.stratumnutrition.com).
Novus is privately owned by Mitsui & Co. (U.S.A.), Inc. and Nippon Soda Co.,
Ltd. For more information, visit www.novusint.com.
Forward-Looking Statements for Verenium
Statements 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, technologies, ability to obtain
additional capital to support its planned operations and financial
obligations, dependence on patents and proprietary rights, and 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, 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, the 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, 2010, 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
Contacts For Verenium:
Kelly Lindenboom Sarah Carmody
Vice President, Corporate Communications Manager, Corporate
Contacts for Novus:
Tracy Barfield Adrienne Todd
Senior Manager, Marketing Communications Manager, Corporate Initiatives
®ACTIVATE, ALIMET, AGRADO, MAAC, MHA, MINTREX, SANTOQUIN and Novus are
trademarks of Novus International, Inc., and are registered in the United
States and other countries.
®ACIDOMIX is a trademark of Novus Deutschland GmbH and is registered in
Germany and other countries.
™CIBENZA, IDEA, and MERA are trademarks of Novus International, Inc.
®ARENUS and ® Stratum are trademarks of Novus Nutrition Brands, LLC, and is
registered in the United States and other countries.
SOURCE Verenium Corporation
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