Agreement allows Tate & Lyle to use enzyme product
by Jeff Gelski
SAN DIEGO — Tate & Lyle, P.L.C., London, will use a proprietary enzyme product from Verenium Corp., San Diego, in the development of novel food ingredients under an agreement between the two companies announced Jan. 30. 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.