(Yicai Global) Dec. 17 -- Shares in Vtr Bio-Tech jumped as much as 6.7 percent today after the Chinese enzyme maker said it is enlisting the US’ Fornia BioSolutions to help it develop two bio-enzyme products for use in the production of paper and animal feed.

Vtr Bio-Tech’s share price [SHE:300381] closed up 2.07 percent at CNY10.85 (USD1.70). Earlier in the day it had reached CNY11.35.

Vtr Bio-Tech will pay Fornia USD2.83 million to develop two enzyme preparations that should be ready for commercialization in one year, the Zhuhai, southern Guangdong-based firm said today. One enzyme will help reduce the use of decolorizers in paper making and thus cut production costs and the other will help lower the cost of making starch sugar for fodder.

The tie up with California-based Fornia will help Vtr Bio-Tech improve its abilities to develop other enzyme preparations for industrial purposes, it said.

Editor: Kim Taylor