Verenium Corporation

Verenium Corporation
Company typePublic Company (Nasdaq: VRNM) [1]
IndustryIndustrial Biotechnology
Founded2007
HeadquartersSan Diego, California
Key people
James Levine (President & CEO), Janet Roemer (COO), Jeff Black (CFO)
ProductsEnzymes
Number of employees
130
Websitewww.verenium.com

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.

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]

  1. ^ a b Logan, Rob (December 8, 2017). "Verenium (VRNM) vs. Trecora Resources (NYSE:TREC) Critical Analysis". The Ledger Gazette. Retrieved December 10, 2017.
  2. ^ "Diversa and Celunol Complete Merger to Create Verenium Corporation". Biospace. June 20, 2007.
  3. ^ a b c Bigelow, Bruce V. (24 Sep 2013). "Aiming for Chartbuster, Germany's BASF Acquires San Diego's Verenium". Xconomy. San Diego, California, USA. Retrieved 9 Apr 2018.
  4. ^ Runge, W. (2014). Technology Entrepreneurship : A Treatise on Entrepreneurs and Entrepreneurship for and in Technology Ventures. Vol 1 und Vol 2.:. KIT Scientific Publishing. p. 968. ISBN 978-3-7315-0107-7. Retrieved December 10, 2017.
  5. ^ a b Arico, S. (2015). Ocean Sustainability in the 21st Century. Cambridge University Press. p. 207. ISBN 978-1-316-30077-0. Retrieved December 10, 2017.
  6. ^ Petroleum Review. Institute of Petroleum. 2008. p. 293. Retrieved December 10, 2017.
  7. ^ "BASF announces cash offer to acquire specialized enzyme biotechnology company Verenium". BASF. 20 September 2013. Retrieved 21 September 2013.