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Biotech / Medical : Diversa Corporation (DVSA)
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To: nigel bates who wrote (32)1/9/2001 10:48:35 AM
From: nigel bates   of 144
 
Jan. 9 /PRNewswire/ -- Diversa Corporation (Nasdaq: DVSA - news) today announced that it has successfully achieved all development milestones in its collaboration with Zymetrics. Zymetrics is a contract joint venture formed in December 1999 between Diversa and Syngenta to pursue opportunities in animal nutrition and agricultural product processing. Diversa has delivered an animal feed product candidate and several promising leads for other applications and will receive an undisclosed milestone payment for these accomplishments.
``We are extremely pleased by the dedication of the Diversa team and the effectiveness of Diversa's proprietary discovery and evolution technology platforms,'' stated James Tuan, President of Zymetrics. ``We expect this product candidate to be the first of many products to be marketed by Zymetrics that will set a new performance standard for the industry.''
Zymetrics is focused on the development and marketing of enzyme-based products and processes designed to enhance the nutritional content of animal feeds, improve the health and performance of animals, minimize the environmental impact of intense animal production, and enable new opportunities for novel products from the processing of agricultural outputs. Diversa is receiving research support, and will participate in profit sharing on products commercialized by the venture.
``Zymetrics combines the breadth of the world's largest agricultural company, Syngenta, with Diversa's extensive gene discovery and evolution platforms for rapid commercialization of innovative products,'' stated Jay M. Short, Ph.D., President and Chief Executive Officer of Diversa Corporation....
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