Verenium, Tate & Lyle partner for new enzyme

In California, Verenium and Tate & Lyle have signed an agreement for the use of one of Verenium’s proprietary enzyme products in the development of novel food ingredients.  Under the terms of the agreement, Tate & Lyle receives a technology license with exclusivity assurances in the field of development. Verenium receives $1.5 million in near term milestone payments, revenues from enzyme product sales, and a royalty on Tate & Lyle’s future sales.