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Verenium Corporation's CEO Discusses Q2 2011 Results - Earnings Call Transcript

Second, meeting demand for transportation fuels and third, the need to achieve these objectives while reducing our impact on the environment. Importantly for Verenium and our current and prospective partners and customers, enzymes address all these needs head on.

Moving next to our suite of commercial products, the 53 million in sales I mentioned earlier has significant opportunity for near-term growth given our success and penetration, the animal health and nutrition and grain processing markets and our success in creating the oilseed processing market for enzymes.

Over the next two to three years, we expect our current products to be the primary growth driver as several of them including Fuelzyme alpha-amylase and Purifine PLC are in the early stages of their launch and are gaining significant traction in their market. It’s primarily through the acceleration of sales in these products and the others in our current commercial offering that we expect to achieve breakeven from operations in the late 2013 timeframe, a critical turning point for Verenium.

Driving growth beyond our current products is our deep pipeline of product candidates, which represent what we are characterizing, is medium-term growth opportunity that allows us to meet our goal of continuing to grow and diversify our revenue base over the 2013 to 2015 time horizon. While our commercial products are critical to our near-term success, our pipeline is equally as important to our mid and longer-term growth and success.

A mainstay of our strategy for developing and commercializing our pipeline is aligning with partners who bring complementary resources and capabilities to our team. Our goal with these partnerships is to share equally in the development costs and profits, similar to our current agreement with Danisco and the partnership we just announced with Novus, both in the animal health and nutrition area. This financial model provides significant benefit to Verenium over the product lifecycle.

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