Syngenta and Diversa Strengthen Their Collaboration
Tuesday July 27, 6:30 am ET
SAN DIEGO, July 27 /PRNewswire-FirstCall/ -- Diversa Corporation (Nasdaq: DVSA - News) today announced an agreement with Syngenta that strengthens their research and product development alliance and continues the development and commercialization of novel animal feed enzymes. The new agreement will provide Syngenta with the ability to continue its collaboration with Diversa in the area of animal feed enzymes on an exclusive basis in exchange for an exclusivity fee and continued research and development funding.
Under the agreement, Zymetrics, the existing contract joint venture for animal feed enzymes, will be managed exclusively by Syngenta. At the same time, Syngenta and Diversa will collaborate in the research for and development of other enzymes and selected antibody and other biopharma products. The agreement also provides for a number of Syngenta employees to be relocated to work alongside Diversa scientists in San Diego, and Diversa will assist Syngenta in developing the strategic direction of Syngenta's investment in enzymes.
The collaboration between Syngenta and Diversa to develop enhanced animal feed products was initiated with Zymetrics in 1999 and expanded in early 2003, providing that Diversa conducts research exclusively for Syngenta in fields related to crops and plants. The first animal feed product from Zymetrics is QUANTUM(TM) Phytase, with initial sales having been made in Mexico and registration expected in the USA in 2004.
Dr. David Jones, Head of Business Development for Syngenta, commented: "This strengthened collaboration with Diversa further supports our strategy to become a leader in enzymes. Our first priority will be to focus on the animal feed market." William H. Baum, Executive Vice President of Diversa, said: "Under our relationship with Syngenta, we have mutually built a robust pipeline of products. With the extensive discovery capabilities and proprietary technologies of Diversa and the agribusiness expertise of Syngenta, we are confident that the launch of our first products will be very successful."
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 Amgen, 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 one additional independent product to be commercialized in 2004. Additional information is available at Diversa's website: www.diversa.com. |
