Verenium Corporation was a San Diego, California-based industrial biotechnology company founded in 2007 as the result of a merger between Diversa (San Diego) and Celunol (Cambridge, MA).[2][3] The company specialized in research and development for the production of high performance enzymes used in industrial applications, including biofuel generation, hydraulic fracturing.[3][4] Verenium was acquired by BASF corporation in 2013.[3] The company's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries including the global food and fuel markets.
Company type | Public Company (Nasdaq: VRNM) [1] |
---|---|
Industry | Industrial Biotechnology |
Founded | 2007 |
Headquarters | San Diego, California |
Key people | James Levine (President & CEO), Janet Roemer (COO), Jeff Black (CFO) |
Products | Enzymes |
Number of employees | 130 |
Website | www.verenium.com |
Using proprietary and patented genomic technologies, BASF extracts microbial DNA directly from collected samples to avoid the slow and often impossible task of growing microbes in the laboratory.[5] BASF then mines its collection of microbial genes, numbering in the billions, using high-throughput screening technologies designed to identify unique enzymes as product candidates.[5] As required, these enzymes can then be further optimized for commercial use through the company's patented DirectEvolution technologies. By combining discovery and laboratory evolution technologies, Verenium successfully developed and commercialized a suite of highly differentiated enzyme products tailored to meet the specific needs of companies in various markets, including grain processing, biofuels, animal health and nutrition and other industries.[6] These enzymes products are now offered by BASF.
On September 20, 2013, Verenium entered an agreement to be acquired by BASF, with a 71% acquisition of Verenium.[1][7]