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First Product Candidate Moving Toward Commercialization as Result of Novus International and Verenium Corporation (VRNM) Collaboration


1/23/2012 10:17:59 AM

ST. LOUIS and SAN DIEGO, Jan. 23, 2012 /PRNewswire/ -- Novus International Inc., a leading manufacturer of animal and human 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 the selection of a next-generation phytase as the first enzyme candidate from the two companies' strategic collaboration to advance toward commercialization. The companies embarked on a strategic partnership in June of last year to develop a suite of new enzyme products from Verenium's late-stage pipeline in the animal nutrition and health area globally.

"This partnership has enabled us to create enzyme solutions for nutritionists, producers and others who want to optimize nutrition. This product is geared toward use in poultry, pork and aquaculture product," notes Novus International President and Chief Executive Officer Thad Simons. "We're pleased to be a valued partner in optimizing nutrition and, as a result, lowering feed costs for our customers through cutting-edge enzyme solutions like this one."

Reducing the amount of phytate-bound phosphorus is key in helping livestock producers reduce the impact of animal production on the environment. The phytase enzyme being developed as part of this collaboration will help nutritionists and producers feed more efficiently and get the most out of their rations.

"This product is indicative of significant progress we've made so far in our partnership with Novus, having exceeded important technical milestones ahead of schedule. This early success is a result of combining our leading development capabilities with Novus' in-depth knowledge of customer needs. It's an early validation of the synergies between our two companies," said James Levine, President and Chief Executive Officer at Verenium. "Looking ahead, we anticipate advancing additional product candidates and commercializing a suite of differentiated enzyme products that deliver superior performance and make a significant impact on the animal health and nutrition industry."

In addition to the next-generation phytase, the collaboration also has three additional products in late-stage development targeted at this market.

About The Animal Health and Nutrition Market

Enzymes are used in the animal health and nutrition market to allow livestock, poultry, aquaculture and companion animals to more readily digest and absorb the nutrients naturally occurring in grains and protein meals. According to industry reports, enzymes in the animal health and nutrition market are experiencing remarkable growth due to their ability to provide better nutrition and an improved environmental impact. Global sales of animal feed enzymes are estimated to have reached $520 million in 2010, and are expected to grow 6 to 7 percent annually to reach more than $720 million by 2015, making it one of the largest and fastest growing markets for industrial enzymes. Given the trends of global population growth, increased meat consumption in emerging markets and increased grain prices leading to higher feed costs for producers, enzymes are an effective means of improving the sustainability of animal production both economically and environmentally.

About Verenium

Verenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes. Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel markets. Read more at www.verenium.com.

About Novus

Novus International Inc. is headquartered in metropolitan St. Louis, Mo., U.S.A. and serves customers in more than 90 countries around the world. An industry leader in animal nutrition and health, Novus's products include CIBENZA feed enzymes, ALIMET® and MHA® feed supplements, ACTIVATE® nutritional feed acid, ACIDOMIX® preservative premix, , MINTREX® and MAAC® chelated trace minerals, SANTOQUIN® feed preservative, MERAMET aquaculture feed additive, AGRADO® feed ingredient and many other specialty ingredients. Arenus (www.arenus.com) is a division of Novus Nutrition Brands, LLC (a subsidiary of Novus International, Inc.), that focuses on developing health and dietary supplements for the equine and companion animal markets. Stratum® Nutrition, a division of Novus Nutrition Brands, LLC, focuses on human nutrition through specialty and functional ingredients for manufacturers of foods, beverages and dietary supplements (www.stratumnutrition.com).

Novus is privately owned by Mitsui & Co. (U.S.A.), Inc. and Nippon Soda Co., Ltd. For more information, visit www.novusint.com.

Forward-Looking Statements for Verenium

Statements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty. These include, but are not limited to, statements related to Verenium's lines of business, operations, capabilities, commercialization activities, corporate partnerships, target markets and future financial performance, results and objectives, all of which are prospective. Such statements are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to the differences include, but are not limited to, risks associated with Verenium's strategic focus, technologies, ability to obtain additional capital to support its planned operations and financial obligations, dependence on patents and proprietary rights, and protection and enforcement of its patents and proprietary rights, the commercial prospects of the industries in which Verenium operates and sells products, Verenium's dependence on manufacturing and/or license agreements, its ability to achieve milestones under existing and future collaboration agreements, the ability of Verenium and its partners to commercialize its technologies and products (including by obtaining any required regulatory approvals) using Verenium's technologies, the timing for launching any commercial products and projects, the ability of Verenium and its collaborators to market and sell any products that it or they commercialize, the development or availability of competitive products or technologies, the future ability of Verenium to enter into and/or maintain collaboration and joint venture agreements and licenses, and risks and other uncertainties more fully described in Verenium's filings with the Securities and Exchange Commission, including, but not limited to, Verenium's annual report on Form 10-K for the year ended December 31, 2010, and any updates contained in its subsequently filed quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof, and Verenium expressly disclaims any intent or obligation to update these forward-looking statements.

Contacts For Verenium:

Kelly Lindenboom

Vice President, Corporate Communications

858-431-8580

kelly.lindenboom@verenium.com

Sarah Carmody

Manager, Corporate Communications

858-431-8581

sarah.carmody@verenium.com

Contacts for Novus:

Tracy Barfield

Senior Manager, Marketing Communications

636-794-2411

tracy.barfield@novusint.com

Adrienne Todd

Manager, Corporate Initiatives

314-809-6358

adrienne.todd@novusint.com

®ACTIVATE, ALIMET, AGRADO, MAAC, MHA, MINTREX, SANTOQUIN and Novus are trademarks of Novus International, Inc., and are registered in the United States and other countries.

®ACIDOMIX is a trademark of Novus Deutschland GmbH and is registered in Germany and other countries.

CIBENZA, IDEA, and MERA are trademarks of Novus International, Inc.

®ARENUS and ® Stratum are trademarks of Novus Nutrition Brands, LLC, and is registered in the United States and other countries.

SOURCE Verenium Corporation



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