Cargill and Diversa announce partnership to develop novel enzymes
Under the terms of the agreement, Diversa will receive upfront payments and research funding and is entitled to receive milestone payments, license fees, and royalties on products that may be developed.
12/04/05 Diversa Corporation has announced that it has signed an agreement with Cargill Health and Food Technologies to discover and develop novel enzymes for the cost- effective production of a proprietary product.
Under the terms of the agreement, Diversa will receive upfront payments and research funding and is entitled to receive milestone payments, license fees, and royalties on products that may be developed.
"Oil processing and nutrition products represent one of Diversa's strategic focus areas, and we are pleased to be partnering with Cargill on this opportunity," stated Jay M. Short, Ph.D., Diversa's President and Chief Executive Officer. "We are targeting the development of a novel, differentiated product through the combination of our industry-leading enzyme product-development platforms with Cargill's bioprocessing and commercial expertise. We look forward to working with Cargill on this program and other areas of mutual interest."
Diversa Corporation is a leader in applying proprietary genomic technologies for the rapid discovery and optimization of novel protein-based products. The Company is directing its integrated portfolio of technologies to the discovery, evolution, and production of commercially valuable molecules with agricultural, chemical, industrial, and pharmaceutical applications. Diversa has established alliances and joint ventures with market leaders, such as Bayer Animal Health, DuPont Bio-Based Materials, GlaxoSmithKline, Medarex, Merck, and Xoma. In addition, the Company has formed a broad strategic relationship with Syngenta AG, a world-leading agribusiness company. Diversa has commercialized products both independently and in collaboration with strategic partners and licensees.
