verb-with-preposition and verb-with-other-preposition

Yes, this is correct and works both with and without the commas. The use of commas would slightly alter the meaning by conveying that 'implemented in' is mentioned in passing, but not of equal importance to 'derived for'.

About verbs sharing an object, see also:

• How to combine in a sentence two verb-preposition pairs that have the same object?
  • Comma usage with one subject, multiple verbs, and multiple objects

About comma usage for parentheses (or bracketing comma), see also:

• parentheses vs double commas vs dashes to provide additional detail
• which type of comma is used here