SAN DIEGO, Jan. 8 /PRNewswire-FirstCall/ -- Diversa Corporation today announced that it has been awarded $2.28 million from the U.S. Department of Defense's Chemical and Biological Defense (CBD) Initiatives Fund. Under the award, which will support the first year of a potential multi-year BioDefense project, Diversa plans to work closely with Agentase LLC and Life Science Research Israel Ltd. (LSRI) to develop an environmentally benign, enzyme-based system that is capable of decontaminating a broad spectrum of both chemical and biological warfare agents. Potential product applications of any successfully developed system include decontaminating sprays, solutions, foams, wound dressings, fabrics, and protective clothing.
Diversa will apply its proprietary discovery and evolution technologies to identify and optimize enzyme leads demonstrating active decontamination against a range of chemical and biological warfare agents. Agentase will then apply its polymer and materials expertise to develop multiple formulations of these enzyme candidates. LSRI will apply its expertise and analytical techniques to the testing of candidate enzymes as detoxificants of chemical and biological agents.
"Developing a robust decontamination system is critical in protecting military and civilians from chemical and biological weapons, and we believe we have assembled a team of collaborators to effectively meet that challenge," stated Jay M. Short, Ph.D., President and Chief Executive Officer of Diversa. "Each member of the project team brings significant capabilities and BioDefense experience to the collaboration. We are pleased with the award for the initial year and hope to receive subsequent funding over the next several years to complete this important project."
Defense experts believe that chemical and biological warfare agents have proliferated as the result of covert manufacture and weaponization by rogue nations and terrorist organizations. Under battlefield conditions, allied forces could encounter one or a variety of chemical and biological weapons threats in the form of chemical vapors and gases or weaponized aerosols. The morale and combat effectiveness of units in potential contact with such threats depend on the individual perception of safety from attack by a range of agents.
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: http://www.diversa.com/ .
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 the development of an enzyme-based system that is capable of decontaminating a broad spectrum of warfare agents and the potential product applications of any such system, identification and optimization of enzyme leads that are active against a range of chemical and biological warfare agents, and the ability of the collaboration to develop a robust decontamination system and to receive subsequent funding over the several years needed to complete the project, 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 Agentase's and LSRI's technologies and intellectual property, risks associated with Diversa's protection and enforcement of its patents and proprietary rights, risks associated with the government award process and receiving funding from government agencies, Diversa's dependence on Agentase and LSRI as its collaborators on this project and otherwise on existing collaborations, Agentase's and LSRI's respective abilities to test multiple formulations of these enzyme leads as detoxificants of chemical and biological agents, the ability of the collaboration to commercialize products, 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 further information, please contact Hillary Theakston, Investor Relations of Diversa Corporation, +1-858-526-5121; or Jason Spark of Atkins + Associates, +1-858-527-3491, for Diversa Corporation.
Diversa CorporationCONTACT: Hillary Theakston, Investor Relations of Diversa Corporation,+1-858-526-5121; or Jason Spark of Atkins + Associates, +1-858-527-3491, forDiversa Corporation
Web site: http://www.diversa.com/
