DIREVO Announces Incorporation of Industrial Biotechnology Subsidiary

Monday, 28. July 2008 08:15
Cologne (Germany), July 28, 2008 - DIREVO Biotech AG announced today
the incorporation of a fully owned subsidiary named DIREVO Industrial
Biotechnology GmbH. The new company was formed to spin-out DIREVO's
industrial biotechnology business unit established at the beginning
of 2007 and the recently acquired AC Biotec GmbH. The new company
focuses on Food & Feed and Biorefinery markets and provides solutions
through discovery, development and scale up of enzymes and strains.
It develops products both independently and with global leaders such
as Danisco/Genencor and Nestlé. The collaboration with Danisco A/S,
for instance, has yielded a significantly improved enzyme which is
marketed as part of a Danisco/Genencor product.

The company will be lead by Mr. Anindya Mukherjee, who joined DIREVO
from DSM in the year 2007, and Dr. Hans-Günter Brünker, who joined
DIREVO coming from amaxa AG beginning of the year 2008. Additional
members of the senior management team are Dr. Henrik Moellgaard as
Head of R&D, who joined from Christian Hansen in 2007, and Dr. Simon
Curvers, Managing Director of AC Biotec GmbH that was acquired in
2007.

"This is an important milestone in DIREVO's history, because it
maximizes our long-term growth potential by improving the chances for
the successful development of both DIREVO Industrial Biotechnology
GmbH and DIREVO Biotech AG" said Dr. Thomas von Rüden, CEO of DIREVO
Biotech AG. "This allows the two companies to focus on their
respective core businesses."

"DIREVO's unique and proven technology platform and outstanding
technical expertise along with relevant industry experience and
background is an important starting point for the growth and success
of DIREVO Industrial Biotechnology," Anindya Mukherjee, Managing
Director of Industrial Biotechnology, added.

The company will start its operations with a total of 17 full-time
employees and will seek new investors for building up its
infrastructure as well as to secure its long-term growth.

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DIREVO Biotech AG

DIREVO Biotech AG generates superior bioengineered products and
processes for industrial and pharmaceutical markets by enhancing
nature's potential. The company's portfolio includes optimized
proteins, optimized bioprocesses and other bio-molecules, in
research, in commercial development and on the market. DIREVO
develops products both independently and with global leaders such as
Danisco/Genencor, Nestlé, AstraZeneca/MedImmune and Pfizer. DIREVO
Biotech is committed to a tailored approach to addressing customer
needs and market opportunities.

DIREVO Industrial Biotechnology GmbH focuses on Food & Feed and
Biorefinery markets and provides solutions through discovery,
development and scale up of enzymes and strains. It develops products
both independently and with global leaders such as Danisco/Genencor
and Nestlé. For example, a collaboration with Danisco A/S has yielded
a significantly improved enzyme which is marketed as part of a
Danisco/Genencor product.

DIREVO's biopharmaceutical business generates improved second
generation therapeutics and discovers and optimizes novel
first-generation therapeutics. DIREVO offers early stage partnering
from internal therapeutic antibody and protease discovery programs as
well as collaborations on the optimization of a wide range of
therapeutic proteins.

DIREVO Biotech AG is privately held and located in Cologne, Germany.
Additional information is available at: www.direvo.com


Contact:
DIREVO Biotech AG
Dr. Thomas von Rüden, CEO
Telephone: + 49 221 8887-121
E-mail: pr@direvo.com
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Author:
Hugin
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