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Verenium Corp. (VRNM) And Novus International Announce Progress In Development Of Novel Enzymes For Animal Health Products

|Includes: Verenium Corporation (VRNM)

Verenium Corp. is an industrial biotechnology company and a global leader in developing and commercializing high-performance enzymes. The company's tailored enzymes are environmentally friendly, making products and processes greener for industries such as the global food and fuel markets.

The company today announced that it and Novus International, a leading manufacturer of animal nutrition and health products, have taken significant steps forward in their collaboration toward commercializing a suite of next-generation animal nutrition enzymes. The two companies entered into a strategic partnership in 2011.

The two firms have selected lead enzyme candidates for the development of the joint venture's suite of non-starch polysaccharide (NYSE:NSP) products designed to enhance the digestibility of feedstuffs in monogastric diets. Additionally, the two companies announced that their next-generation phytase remains on track and the commercial launch of the product in select geographies will happen this year.

This is a very important development for Verenium as it further diversifies its product portfolio. It also gives the company access to the broader animal health and nutrition market. Global sales of animal feed enzymes reached nearly $600 million in 2012 and are forecast to grow 6-7% annually for the next several years.

For further information about Verenium and its enzyme product portfolio, visit www.verenium.com

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