SOURCE: Deinove

July 15, 2013 13:00 ET

DEINOVE Granted 0.9 Million Euro Research Tax Credit for 2012

PARIS--(Marketwired - Jul 15, 2013) - DEINOVE (Alternext Paris: ALDEI), a clean technology company that designs, develops and markets a new generation of industrial processes based on the Deinococcus bacteria, announced today that it has received a research tax credit of EUR 0.9 million for 2012.

This amount is consistent with the provision booked in the 2012 financial statements. The July settlement date for receipt of the 2012 research tax credit is a substantial improvement from last year when the 2011 credit was received late, in December 2012. « This payment strengthens our financial position », stated Emmanuel Petiot, Chief Executive Officer of DEINOVE. « The research tax credit is an efficient system for a small growth company like DEINOVE. Indeed, the funds that we have received today will help finance innovative bioprocesses, which aim to become true standards for each of our targeted markets. »

DEINOVE (Alternext Paris: ALDEI) is a clean technology company that designs and develops new standards of production based on bacteria of untapped potential: the Deinococci.

Taking advantage of their unique genetic properties and unusual robustness, DEINOVE optimizes natural fermentation and metabolic capabilities of these bacterial "micro-factories" to produce rare compounds or products that are technologically difficult to produce: 2nd generation biofuels (DEINOL) and chemical intermediates (DEINOCHEM), but also new antibiotics (DEINOBIOTICS project now led by the subsidiary DEINOBIOTICS SAS) or enzymes for the remediation of plastics (THANAPLAST™ project led by CARBIOS).

Listed on Alternext since April 2010, DEINOVE was founded by Dr. Philippe Pouletty, General Partner of TRUFFLE CAPITAL, and Professor Miroslav Radman, of the Faculty of Medicine of the University René Descartes. The company employs some 30 people and conducts R&D programs in partnership with the CNRS (Marseille and Montpellier), INSA (Toulouse) and VTT (Finland). DEINOVE'S headquarters and laboratories are located in Paris and at the Technoparc Cap Alpha, in Montpellier.

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DEINOVE granted 0.9 million euro research tax credit for 2012:

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