SOURCE: DIREVO Biotech AG

July 01, 2008 03:18 ET

DIREVO and Danisco/Genencor Sign Second Cooperation Agreement

COLOGNE, GERMANY--(Marketwire - July 1, 2008) - DIREVO Biotech AG and Genencor Division of Danisco A/S today announced the signing of their second collaboration agreement.

Under the terms of the agreement, Danisco will obtain worldwide exclusive rights to commercialize the product or products developed under this collaboration. In return, Direvo will receive research and development funding, milestone payments and royalties on future product sales.

"DIREVO is delighted to enter into a second collaboration with Danisco, one of the world's largest producers of enzymes, food and feed ingredients," commented Anindya Mukherjee, Executive Vice President Industrial Biotechnology at Direvo. "This agreement further validates our technology platform and our business concept of creating high value products for leading companies."

"We are pleased with the results of our past collaboration with Direvo, which has yielded a successful commercial product, and look forward to our continued relationship" said Dr. Mike Arbige, Executive Vice President.

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About Direvo Biotech AG

DIREVO Biotech AG generates superior, bioengineered products and processes for the industrial and pharmaceutical markets by enhancing nature's potential. The Company's portfolio includes optimized proteins, optimized bioprocesses and other bio-molecules in research, in commercial development and on the market. DIREVO develops products both independently and with global leaders such as Danisco/Genencor, Nestlé and Pfizer, Inc. DIREVO Biotech is committed to taking a tailored approach when addressing customer needs and market opportunities.

DIREVO's industrial biotechnology business focuses on the food & feed and biorefineries markets. The Company provides solutions through discovery, development and scale up of enzymes and strains. Industrial biotechnology at DIREVO emphasizes environmental sustainability and the use of renewable resources. For example, our collaboration with Danisco A/S has yielded a significantly improved enzyme which is marketed as part of a Danisco/Genencor product. DIREVO Biotech AG is privately held and located in Cologne, Germany. Additional information is available at: www.direvo.com

About Danisco/Genencor

A Danisco Division, Genencor is one of the largest developers and manufacturers of industrial enzymes and one of the largest biotechnology companies in the world. Danisco is one of the world's leading producers of ingredients for food and other consumer products. (Sources: www.genencor.com and www.danisco.com)

Contact Information

  • Contact:
    DIREVO Biotech AG
    Anindya Mukherjee
    EVP Industrial Biotechnology
    Telephone: + 49 221 8887-118
    E-mail: info@direvo.com