DSM Acquires Food Enzymes Business, Technology From Verenium

HEERLEN, The NetherlandsRoyal DSM N.V., the global Life Sciences and Materials Sciences company, has completed the acquisition of certain assets, licenses and other agreements in the area of food enzymes and oilseed processing from San-Diego-based Verenium for $37 million. The acquisition allows DSM to further strengthen its industrial biotech activities and reinforce its food enzymes innovation pipeline.

The transaction includes Vereniums oilseed processing business and IP portfolio, licenses for certain food enzymes and access to biodiversity libraries that Verenium will create using proprietary technology. The 2012 sales of these businesses are estimated at about $15 million, growing rapidly in the coming years.

Verenium has developed a number of high-performance enzyme products and product candidates for use in industrial processes. Verenium's enzyme products minimize pollution by reducing or replacing harsh chemicals used in industrial processes while also enhancing yields in their customers processes.

Commenting on the acquisition, Hans-Christian Ambjerg, President DSM Food Specialties, said: For DSM Food Specialties this acquisition is a great step in achieving our ambitious growth strategy as we expand our enzymes business beyond our current applications. We will be able to provide sustainable enzyme solutions to rapidly growing new segments for DSM such as oilseed processing."