Third Party Manufacturing Partnerships to Ensure Production Capacity.

Overview

Our enzyme manufacturing strategy is to secure contract manufacturing relationships with qualified third parties possessing sufficient fermentation capacity to meet our commercial production requirements. We may add supplemental equipment as required for our specific products, and we place our own technical personnel on site at contract manufacturing facilities to plan and supervise our production. Our employees have significant experience in scale-up and production of fermentation products, including industrial enzymes. We have cleared regulatory requirements for our first commercial enzymes, and we are producing these products at commercial scale in connection with our manufacturing agreement with Fermic, S.A. de C.V., or Fermic. We manufacture products for our own sales in addition to products produced under supply agreements for our partners. We have access to a pilot development facility that is used for developing new products and processes, providing developmental quantities of products for internal and external use, and for producing commercial quantities of smaller-scale specialty products. We will continue to depend on contractual arrangements with third parties to provide the bulk of the capital infrastructure required for large-scale commercial manufacturing.

FERMIC

During 2002, we entered into a manufacturing agreement with Fermic, a United States Food and Drug Administration-approved fermentation and synthesis plant located in Mexico City, to provide us with the capacity to produce commercial quantities of certain enzyme products. Based on actual and projected increased product requirements, the agreement was amended in 2004 to provide for additional capacity to be installed over the succeeding four-year period. The agreement was further modified in 2006 to adjust for certain cost increases, and to provide extended timeframes for installing incremental capacity. Verenium currently manufactures a numbers of enzymes at large scale through its relationship with Fermic including Phyzyme® XP Phytase, Purifine® PLC, Fuelzyme® Alpha-amylase, Veretase® Alpha-amylase, Xylathin® Xylanase, Luminase® Xylanase, Cottonase® Pectate lyase and Pyrolase® cellulase.

Phyzyme® XP Phytase is a registered trademark of Danisco.

About FERMIC, S.A. DE C.V.

Fermic operates a U.S. FDA cGMP approved fermentation and synthesis facility and has one of the largest fermentation plants in Latin America. Fermic is currently producing and supplying bulk active ingredients for production of pharmaceuticals and is working with customers on production technologies for supplying finished pharmaceutical dosage forms. Located in a suburb of Mexico City, Fermic has extensive development efforts focused on strain improvement and production of new biological and chemical products by fermentation and synthesis.

Our enzyme manufacturing strategy is to secure contract manufacturing relationships with qualified third parties.

Verenium harnesses the power of enzymes to create a broad range of specialty products that meet high-value commercial needs. Verenium’s world class R&D organization is renowned for its capabilities in the rapid screening, identification, and expression of enzymes that act as the catalysts of biochemical reactions.
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