Key Developments For Verenium Corporation
Verenium Corporation (VRNM.O) (Consolidated Issue listed on NASDAQ Global Market)
Verenium Corporation And Syngenta Participations AG Close Research Collaboration
Verenium Corporation announced the closure of previously defined programs under its joint research collaboration with Syngenta Participations AG of Switzerland. In connection with the completion of those programs, the parties have executed an agreement whereby Verenium gained additional exclusive rights to an array of biomolecules expressed microbially, as well as non-exclusive rights to the same biomolecules expressed through non-plant and non-microbial means, further bolstering its strong Specialty Enzymes product pipeline. Syngenta will retain exclusive rights to the biomolecules expressed in plants, as well as nonexclusive rights to the same biomolecules expressed through non-plant, non-microbial means. As a result of this transaction, Verenium will receive license fees, including future royalties, for a commercial enzyme candidate licensed to a third party. In addition, Verenium obtained microbial and non-plant rights to several late-stage enzyme development candidates, including; Alpha amylases and glucoamylases for starch processing in biofuels production; Xylanases and beta-glucanases for use in the animal feed industry; and Thermostable phytases also for use in the animal feed industry. This class of enzymes is used commercially to release inorganic phosphate from plant material enhancing its nutritive value and reducing environmental phosphorus pollution.
Verenium Corporation And VPP Sign Agreement To Test C5 Cellulosic Technology On Pulping Feedstocks For Production of Ethanol
Verenium Corporation announced that it has entered into an agreement with Value Prior to Pulping (VPP), an organization created by the Agenda 2020 Technology Alliance, a special project of the American Forest and Paper Association, and CleanTech Partners, Inc., to test the effectiveness of Verenium's C5 technology for the creation of cellulosic ethanol from the hemicelluloses generated by the pulp and paper process, creating higher value products without negatively impacting paper quality. VPP is funded by the U.S. Department of Energy (DOE), the State of Wisconsin and several large forest products companies.
Verenium Corporation Prices Public Offering Of Common Stock And Warrants
Verenium Corporation announced that it has priced an underwritten public offering of 2,250,000 shares of its common stock and warrants to purchase an additional 900,000 shares of common stock at a price to the public of $6.00 per unit. Each unit consists of one share of common stock and a warrant to purchase 0.40 of a share of common stock. The shares of common stock and warrants are immediately separable and will be issued separately. The warrants have a five-year term and an exercise price of $7.59. Net proceeds after estimated underwriting discounts and commissions and estimated expenses, will be approximately $12.3 million, providing the Company with several additional months of operating capital into 2010. The offering is expected to close on or about October 9, 2009. Lazard Capital Markets LLC is acting as the sole book-running manager for the offering.
Verenium Corporation Announces Proposed Public Offering of Common Stock
Verenium Corporation announced that it intends to offer shares of its common stock, and potentially warrants, in an underwritten public offering. The offering is expected to price before October 6, 2009. Lazard Capital Markets LLC is acting as the sole book-running manager for the offering. The securities described above are being offered by the Company pursuant to a shelf registration statement which was filed with the Securities and Exchange Commission (SEC) and became effective on January 14, 2008.
Verenium Corporation And BP Announce Vercipia Biofuels To Advance Commercialization of Cellulosic Ethanol
Verenium Corporation and BP announced that its 50-50 joint venture company is developing a second commercial scale cellulosic ethanol site in the Gulf Coast region.
