Diversa Launches Cottonase(TM) Textile Processing Enzyme in the U.S.
Thursday June 17, 6:30 am ET
SAN DIEGO, June 17 /PRNewswire-FirstCall/ -- Diversa Corporation (Nasdaq: DVSA - News) announced the U.S. launch of Cottonase(TM) enzyme, a novel, environmentally friendly product for cotton-based textile processing. This product joins the global market for textile processing enzymes that currently generate estimated annual revenues of $125 million. Diversa will manufacture the product and market it worldwide through regional distributors.
"In launching Cottonase enzyme, Diversa has achieved an important corporate goal for 2004," said Jay M. Short, Ph.D., Diversa's President and Chief Executive Officer. "This is the first of three independent products that we plan to launch this year."
About Cottonase(TM) Enzyme
Cottonase enzyme is designed to increase the efficiency of textile processing under a broad range of manufacturing conditions by allowing textile producers to save both time and cost in preparing cotton yarn or fabrics for dyeing, printing, or finishing. Because Cottonase enzyme can work synergistically with a wide variety of auxiliary chemicals used in cleaning, less alkaline chemicals are needed, giving textile producers the opportunity to reduce water, energy, and processing time. Reducing alkaline chemicals may also reduce waste water treatment requirements. When using Cottonase enzyme, effective cleaning may be accomplished at a lower temperature than a traditional hot alkaline step. Cottonase enzyme is highly stable and therefore can be added simultaneously with other auxiliary chemicals, reducing handling requirements.
About Diversa
Diversa Corporation is a leader in applying proprietary genomic technologies for the rapid discovery and optimization of novel protein-based products. 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. Diversa has established alliances and joint ventures with market leaders, such as BASF, Bayer Animal Health, The Dow Chemical Company, DSM Pharma Chemicals, DuPont Bio-Based Materials, Givaudan Flavors Corporation, GlaxoSmithKline plc, Invitrogen Corporation, Medarex, and XOMA. In addition, Diversa 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 and expects two additional independent products to be commercialized in 2004. Additional information is available at Diversa's website: www.diversa.com. |
