Novus International Inc., a leading manufacturer of animal 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 significant steps forward in their collaboration's progress toward commercializing its suite of next-generation animal nutrition enzymes. The two companies, which entered into a strategic partnership in 2011, recently selected lead enzyme candidates for the development of the collaboration's suite of non-starch polysaccharide (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 into select geographies is targeted in 2013.
"Our collaboration with Novus and the development of a suite of next-generation enzyme products for animal nutrition are progressing very positively," said James Levine, President and Chief Executive Officer at Verenium. "Through this important collaboration, we are able to further diversify our product portfolio and gain access to the broader animal health and nutrition market for enzymes. Importantly, the market opportunity for phytase and NSP enzymes is large and rapidly growing and through Novus' extensive industry expertise and global market reach we expect to be able to capture a significant share of this market with our superior performing enzyme product offerings."
Building on Novus's existing CIBENZA® portfolio these new products hold great promise and the collaboration is working to bring quality solutions for feed cost optimization and gut health in the poultry industry to help solve issues at the nutrition level, before they reach production and processing.
"We are very pleased with the progress this collaboration has achieved to date," notes Novus International Specialty Business President and Chief Operating Officer Francois Fraudeau. "Verenium's unique enzyme development capabilities are allowing us to create new, versatile solutions for our customers that offer improved environmental and economic sustainability. We look forward to continuing to advance this suite of high-performance enzyme products toward commercialization."