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DSM Pharma Chemicals And Diversa Corporation (DVSA) Sign Agreement To Develop Biocatalysts For Production Of Pharmaceutical Intermediates

10/19/2005 5:09:42 PM

SITTARD, The Netherlands and SAN DIEGO, Jan. 15 /PRNewswire-FirstCall/ -- DSM Pharma Chemicals (DPC) and Diversa Corporation today announced that they have entered into a collaborative agreement to discover and develop biocatalytic solutions designed to simplify and lower the cost of a variety of chemical transformations. Under the terms of the agreement, DPC will identify the targeted chemical conversions. Diversa will work to develop appropriate biocatalysts. Subsequently, DPC will scale-up these processes to manufacture pharmaceutical intermediates and active ingredients. Diversa will receive research and development payments and be entitled to milestones and royalties on products commercialized by DPC.

This partnership will combine the strength of DSM as a leading supplier of pharmaceutical intermediates and active ingredients with Diversa's global leadership in the discovery, evolution and development of novel enzyme platforms. Biocatalysis has increasingly become the technology of choice to introduce chirality in fine-chemical processes. The use of biocatalysts often leads to less complex syntheses, lower production costs, and more sustainable production processes. DSM is the market leader in applied biocatalysis for fine-chemical applications and to date has developed more than 25 industrial- scale production processes using enzymatic catalysis. Diversa's proprietary technology for discovering and optimizing proteins has delivered superior solutions for a range of applications within the pharmaceutical, agricultural and chemical industries.

"We are excited about the potential of this collaborative agreement with Diversa. Biocatalysis is clearly one of our core technologies in chemical custom manufacturing," said Dr. Ronald Gebhard, R&D Director of DSM Pharma Chemicals. "As this field is rapidly developing and expanding, we expect that this relationship with Diversa will further leverage our leading position in industrial biocatalysis. For us, biocatalysis is one of the smart solutions that we can offer to the benefit of our customers."

"This collaboration provides Diversa with yet another opportunity to leverage our expertise in discovering and optimizing proteins," stated William H. Baum, Diversa's Executive Vice President. "We are pleased to add DSM to our growing list of partners and look forward to working with them to improve the production of pharmaceutical products."

About DSM Pharma Chemicals

DSM Pharma Chemicals is one of the three business units of DSM Pharmaceutical Products. It develops and produces pharmaceutical intermediates and active ingredients, mostly on exclusive basis. Its development and production facilities are based in Venlo (the Netherlands), Linz (Austria), Greenville and South Haven (USA). The business unit has a total workforce of about 1,250.

About DSM

DSM is active worldwide in life science and nutritional products, performance materials and industrial chemicals. The company creates innovative products and services that help improve the quality of life. DSM's products are being applied in a wide range of end markets and applications such as human and animal nutrition and health, cosmetics, pharmaceuticals, automotive and transport, coatings, housing and electrics & electronics (E&E). The group has annual sales (pro forma including the recent acquisition -- renamed DSM Nutritional Products) of approximately EUR 8 billion and employs in the region of 25,000 people around the world. DSM ranks among the global leaders in many of its fields. DSM is headquartered in the Netherlands, with locations in Europe, Asia and the Americas. More information about DSM can be found at .

About Diversa

Diversa Corporation is a leader in applying proprietary genomic technologies for the rapid discovery and optimization of novel products from genes and gene pathways. Diversa is directing its integrated portfolio of technologies to the discovery, evolution, and production of commercially valuable molecules with pharmaceutical applications, such as optimized monoclonal antibodies and orally active drugs, as well as enzymes and small molecules with agricultural, chemical, and industrial applications. In addition, Diversa has formed alliances and joint ventures with market leaders, such as BASF, The Dow Chemical Company, DuPont Bio-Based Materials, Givaudan Flavors Corporation, GlaxoSmithKline plc, Invitrogen Corporation, and affiliates of Syngenta AG. Additional information is available at Diversa's website: .

Diversa Forward-Looking Statements

Statements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty. These include statements related to possible biocatalytic solutions and products developed under the collaboration with DPC and the benefits of those solutions and products, and the receipt by Diversa of milestones and royalties on products commercialized by DPC, all of which are prospective. Such statements are only predictions, and the actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks involved with Diversa's new and uncertain technologies, risks associated with Diversa's dependence on patents and proprietary rights, risks associated with Diversa's protection and enforcement of its patents and proprietary rights, risks associated with DPC's technologies and intellectual property, Diversa's dependence on DPC in connection with this collaboration and otherwise on existing collaborations, Diversa's ability to maintain the agreement with DPC, the development or availability of competitive products or technologies, and the future ability of Diversa to enter into and/or maintain collaboration and joint venture agreements. Certain of these factors and others are more fully described in Diversa's filings with the Securities and Exchange Commission, including, but not limited to, Diversa's Quarterly Report on Form 10-Q for the quarter ended September 30, 2003. These forward-looking statements speak only as of the date hereof. Diversa expressly disclaims any intent or obligation to update these forward-looking statements.

For more information: DSM Pharma Chemicals Ronald Gebhard R&D Director DPC Tel: +31-46-4770046 / +31-6-51272846 Fax: +31-46-4773264 Diversa Corporation Hillary Theakston Investor Relations Tel: +1 (858) 526-5121 Fax: +1 (858) 526-5553 Visit us at Informex 2004, booth number 1119 (DSM) and 2403 (Diversa).

Diversa Corporation; DSM Pharma Chemicals

CONTACT: Ronald Gebhard, R&D Director DPC of DSM Pharma Chemicals,+31-46-4770046, +31-6-51272846, fax, +31-46-4773264,;or Hillary Theakston, Investor Relations of Diversa Corporation,+1-858-526-5121, fax, +1-858-526-5553,

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