Diversa and Givaudan enter into agreement to develop new processes and products
they have entered into an agreement to discover and develop novel
enzymes and processes for the cost-effective production of new
products for consumer applications
Diversa Corp. and Givaudan Flavors Corporation today announced that they have entered into an agreement to discover and develop novel enzymes and processes for the cost-effective production of new products for consumer applications. Under the terms of the agreement, Diversa is entitled to receive from Givaudan undisclosed payments as agreed by the parties.
With more than 200 years of experience in the flavor and fragrance industry, Givaudan currently produces flavors that are added to soft drinks, fruit juices, baked goods, chewing gum, chocolate, ice cream, fresh dairy products, instant desserts, ready meals, snacks, soups and sauces. In developing new flavors and fragrances, Givaudan invests in R&D activities ranging from the discovery of new molecules to the improvement of delivery systems that allow the flavor or fragrance to be released.
"In addition to having significant industry experience, Givaudan is committed to applying advanced technologies to support innovation and increase their market presence," stated Jay M. Short, Ph.D., President and Chief Executive Officer of Diversa Corporation. "This is an excellent opportunity for Diversa to partner our proven technologies with industry-leading expertise for the development of new products.
Diversa Corporation is a global leader in developing and applying proprietary technologies to discover and evolve novel genes and gene pathways from diverse sources. The Company is utilizing its fully integrated approach to develop novel enzymes and other biologically active compounds, such as orally active drugs, produced by these genes and gene pathways. The Company's proprietary evolution technologies facilitate the optimization of genes to enable product solutions for the pharmaceutical, agricultural, chemical processing, and industrial markets.
Within these broad markets, the Company is targeting key multi-billion dollar market segments where it believes its technologies and products will create high value and competitive advantages for strategic partners and customers. The Company's strategic partners are market leaders and include Aventis Animal Nutrition S.A., Celera Genomics, The Dow Chemical Company, GlaxoSmithKline plc, Invitrogen Corporation, and Syngenta Biotechnology, Inc. The Company has also formed joint ventures with The Dow Chemical Company (named Innovase LLC) and with Syngenta Seeds AG (named Zymetrics, Inc.). Additional information is available at Diversa's website: www.diversa.com .
Givaudan ( www.givaudan.com ) is a global leader in fragrances and flavours research, development, creation, manufacture and sales. Givaudan is headquartered in Geneva, Switzerland, and has subsidiaries in 40 countries world-wide. The company employs some 5,000 people worldwide.
