Deinove Confirms the Allowance of its Foundation Patent by the European Patent Office
The EP2016183 patent covers a genetic engineering process that exploits the deinococci's unique self-repair ability - a property that has enabled these bacteria to enrich their genome through natural evolution over 3 billion years. This self-repair process enabled them to develop the exceptional natural ability to exploit biomass by borrowing genes from other living organisms. The ability to integrate these survival genes has made the deinococci exceptional candidates for industrial exploitation.
The greentech company Deinove (Alternext Paris: ALDEI) is dedicated to the development and commercial exploitation of innovative technological processes for the production of biofuels and other compounds of industrial or pharmaceutical interest, by exploiting the deinococci's exceptional natural properties. Deinove successfully floated on the Alternext stock market in April 2010. The company intends to leverage its proprietary bacterial strains, technologies and processes by outlicensing to industrial partners. Deinove has partnered with leading sugar, ethanol and starch company TEREOS in order to develop the Deinol project, which aims at producing cellulosic ethanol in existing industrial facilities.
Deinove currently has 25 staff and operates several collaborative R&D programmes with the CNRS (Montpellier and Marseilles), the University of Paris V, INSA Toulouse and the VTT-Technical Research Centre of Finland. It was incorporated in late 2006 under the joint impetus of Philippe Pouletty MD (Managing Partner at the private equity firm Truffle Capital) and Professor Miroslav Radman (Professor of Cell Biology at Paris-Descartes University, a member of the French Academy of Science and winner of the 2003 INSERM Medical Research Prize). Professor Radman elucidated the genetic mechanism behind the extraordinary natural properties of the bacterium Deinococcus (biodiversity and robustness) on which Deinove's innovation strategy is based. The company's headquarters are in Paris and it operates a lab in Montpellier (Cap Alpha Technopark), southern France.
This press release and the information contained herein do not constitute an offer to sell or subscribe to, or a solicitation of an offer to buy or subscribe to, shares in Deinove ("the Company") in any country. This press release contains forward-looking statements that relate to the Company's objectives. Such forward-looking statements are based solely on the current expectations and assumptions of the Company's management and involve risk and uncertainties. Potential risks and uncertainties include, without limitation, whether the Company will be successful in implementing its strategies, whether there will be continued growth in the relevant market and demand for the Company's products, new products or technological developments introduced by competitors, and risks associated with managing growth. Unfavourable developments in connection with these and other risks and uncertainties described, in particular, in Chapter 4 of the Company's prospectus prepared in connection with its IPO and on which the French Autorité des Marches Financiers ("AMF") granted its visa no. 10-014 on March 25 2010, could cause the Company to fail to achieve the objectives expressed by the forward-looking statements above.
Updates are available on the company's website http://www.deinove.com
DEINOVE SA, 22 rue Léon Jouhaux, F-75010 Paris, France - Tel.: +33 (0)1 42 03 27 37 - Fax: +33 (0)1 47 23 54 03 firstname.lastname@example.org - www.deinove.com
Caroline Carmagnol, +33 142 68 86 43 / +33 664 18 99 59
Angelita de Francisco, +33 142 03 27 32 / +33 607 15 28 87
COO and Strategic Marketing