The acquisition includes Verenium’s 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 US$ 15 million, growing rapidly in the coming years.
acquired Verenium’s oilseed processing business, including the R&D portfolio and partnership agreements.
As part of the agreement, a number of Verenium employees will be offered to transfer to DSM.
Verenium has developed Purifine PLC, an enzyme that offers crop-based oil producers a sustainable way to improve yields as well as overall processing economics.
The annual market growth for enzymes in the global crop-based oil market is expected to be about 50% in the coming years with the market potential estimated at more than US$ 350 million.
DSM also acquired exclusive world-wide licenses to alpha-amylase and xylanase enzymes within the food and beverage markets. The market size for food enzymes alone is more than US$ 1.3 billion.
In addition, DSM will have access to the newly developed bio-diversity collection and library being created by Verenium.
By extracting microbial DNA directly from collected samples the slow and often impossible task of culturing individual microbes in a laboratory is avoided.
Utilizing ultra high-throughput screening technologies, Verenium mines its collection of billions of microbial genes in search of unique enzymes.