SAN DIEGO, June 29, 2011 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology company focused on the development and commercialization of high-performance enzymes, today announced the signing of a lease agreement for new office and laboratory space in the Torrey Pines area of San Diego, CA. The lease is targeted to commence in the summer of 2012 following the build out of the new facility and the expiration of Verenium's current sublease, which was negotiated as part of the sale of its cellulosic biofuels business in July of 2010 to BP Biofuels North America.
"We are very excited to have identified a new location for Verenium that will accommodate our current and future growth," said James Levine, President and Chief Executive Officer at Verenium. "It was also important to us to remain in San Diego and we are particularly happy to be relocating to Torrey Pines, one of the area's most important centers for innovation which already houses some of the world's leading biotechnology companies and life sciences institutes. We are pleased to be able to capitalize on a favorable real estate market and begin plans for building a customized space to support growing our business in the San Diego area."
About VereniumVerenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes. Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel markets. Read more at www.verenium.com.
Forward-Looking Statements for VereniumStatements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty. These include, but are not limited to, statements related to
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