Step 1: Examine the assertion.
Downstream processing involves recovery, purification, concentration and formulation of the desired product after fermentation.
These purification steps contribute significantly to the overall production cost.
Hence,
\[
\boxed{\text{Assertion [A] is true}.}
\]
Step 2: Examine the reason.
Enzymes are not produced in a pure form during fermentation.
The fermentation broth contains cells, nutrients, metabolites and other impurities, which require extensive purification.
Thus,
\[
\boxed{\text{Reason [R] is false}.}
\]
Therefore,
\[
\boxed{(C)}
\]
is the correct answer.