To be clear we have always believed that this oilseed processing business was an important demonstration that Verenium is one of the top enzyme development companies in the world. However the reality is that the global infrastructure in China and Latin America required to fully realize the potential of this business is something a global player like DSM can more readily provide. At times we have addressed these limitations through partnerships such as our highly successful relationship with DuPont which enables the worldwide sale of our lead product, Phyzyme phytase.But in this instance, we have decided to sell rather than partner given the compelling nature of the transaction terms. The second element of the transaction is our alpha-amylase and xylanase products, for use mainly in the food and beverage area. Verenium retains the right to these products in markets outside of food and beverage and may also introduce new enzyme products into the food and beverage market going forward.
Verenium's CEO Reviews Verenium Completes $37 Million Sale Of Certain Assets To DSM (Transcript)
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