Verdezyne awarded BioNexus status in Malaysia

SAN FRANCISCO –  Verdezyne, Inc., a privately-held industrial biotechnology company focused on producing renewable chemicals, has been awarded "BioNexus" status by Malaysian Biotechnology Corporation (BiotechCorp), it was announced today at the Biotechnology International Advisory Panel (BioIAP) meeting in San Francisco, California.  Verdezyne was awarded BioNexus status by Malaysian Prime Minister of Malaysia Najib Bin Tun Haji Abdul Razak at a special announcement ceremony during the BioIAP meeting.

BioNexus status is awarded to qualified companies undertaking value-added biotechnology and/or life sciences activities in Malaysia, and includes fiscal incentives, grants and other guarantees to assist growth. BiotechCorp is an agency under the purview of the Malaysian Ministry of Science, Technology and Innovation (MOSTI).

As part of its collaboration with BiotechCorp, Verdezyne expects to open a bio-based chemical production facility in Malaysia, in which Verdezyne will make a significant investment.

"We are honored to receive BioNexus Status from Malaysian BiotechCorp," commented E. William Radany, PhD, president and CEO of Verdezyne. "This status confers a wide array of support and assistance which will accelerate our goal of beginning construction of our first plant to produce renewable chemicals from vegetable oil feedstocks."
Verdezyne uses proven and proprietary metabolic pathway engineering tools to develop unique yeast strains for cost-effective production of bio-based chemicals. Current investors in Verdezyne include BP Alternative Energy Ventures, DSM Venturing B.V., OVP Venture Partners and Monitor Ventures.