SAN DIEGO, Dec. 21 /PRNewswire/ -- Genomatica, Inc., a leading biotechnology company forging new paths for the clean sustainable bio-manufacturing of chemical and biological products from renewable feedstocks, announced today that it has entered into a collaboration agreement with Diversa Corporation to use Genomatica's proprietary technologies to develop more efficient bio-manufacturing processes for biologically-derived enzyme products. Genomatica will strive to attain important productivity and yield targets to improve manufacturing efficiency and costs. Under the terms of the multi-year agreement, Genomatica will receive research support, commercial milestone payments and will be eligible for royalty payments based on future product sales.
"We are excited to be working with Diversa, a company that has pioneered the development of bio-derived products for use within a range of high-value industrial applications," commented Dr. Christophe Schilling, President and Chief Scientific Officer. "The marketplace continues to value the growing strengths of our proprietary Integrated Metabolic Engineering Platform to design and engineer high performance microbial factories that are optimized to produce high-value Bio-Products. We look forward to leveraging both companies' combined expertise in this field to achieve increased success in the commercialization of Diversa products."
"Manufacturing our enzymes in an efficient manner is a key factor in the success of our commercialization strategy," stated Edward T. Shonsey, Chief Executive Officer of Diversa Corporation. "We are pleased to add Genomatica to our list of collaborators and look forward to working with them to explore other opportunities of mutual interest in the future."
Genomatica is an innovative biotechnology company that possesses proprietary technologies to transform the design, engineering, and manipulation of living cells for the production of valuable biological and chemical products. Genomatica is dedicated to developing and commercializing these high throughput research technologies to address metabolism-driven product opportunities in the chemical, material, energy, pharmaceutical, and other industries. As recognized industry leaders in systems biology with worldwide commercial partnerships, Genomatica is enabling and accelerating the development of its customers' bio-derived products and research programs. By implementing integrated computational/experimental platforms designed around its advanced award-winning modeling and simulation technologies, Genomatica performs research for its customers to rapidly develop next generation product development processes, and licenses proprietary technologies and intellectual property for use in its partners own laboratories. Genomatica is currently pursuing commercial relationships with major industrial biotechnology, chemical, energy and pharmaceutical companies seeking to leverage the power of systems biology for rapid development of biological and chemical products. For more information, please visit us on our website at www.genomatica.com.
CONTACT: Christophe H. Schilling, Ph.D., President & Chief ScientificOfficer, or Thomas A. Reed, Vice President, Finance & CorporateDevelopment, +1-858-824-1771, or Amy L. Buono, Media Relations,+1-858-824-1771, both of Genomatica, Inc.