November 8, 2010--
Senomyx, Inc. (NASDAQ: SNMX), a leading company focused on using proprietary technologies to discover and develop novel flavor ingredients for the food, beverage, and ingredient supply industries, announced today that its research, development, commercialization, and license agreement with Firmenich SA regarding novel flavor ingredients intended to provide a cooling taste effect has been amended to extend the research period for an additional two years.
Senomyx and Firmenich, the world's largest privately-owned fragrance and flavor company, initiated the cool flavor collaboration in December 2007. Under the agreement, Senomyx is using its proprietary technologies to discover and develop flavors that may be used by Firmenich on an exclusive basis worldwide as new cooling agents. Under the terms of the extension, Firmenich has agreed to pay Senomyx incremental research fees. Senomyx is also eligible to receive specified payments upon the achievement of milestones, and will be entitled to royalties based on products that incorporate novel flavors that are developed under the collaboration.
“Senomyx’s collaboration with Firmenich for the discovery of new cooling agents has been progressing extremely well,” said Kent Snyder, Chief Executive Officer of the Company. “Senomyx has discovered new cooling flavors that demonstrated a taste proof-of-concept and displayed cooling properties that exceed those of commonly used agents.
“We are very pleased that our collaboration with Firmenich has been extended,” Snyder noted. “We believe that Firmenich’s expertise in product development, proprietary formulation systems, and manufacturing, coupled with their strong relationships with both food and non-food customers, will make them an excellent partner to commercialize cooling flavors that we develop under the collaboration in confectioneries, foods and beverages, oral care, and OTC healthcare products.”
The goal of Senomyx’s Cooling Flavor Program is to identify novel cooling flavors that do not have the limitations of currently available agents. Many currently available cooling agents have deficiencies that restrict their utility, including weak cooling characteristics, bitter off-tastes, limited solubility, and non-proprietary status. Taste tests with promising new cooling flavors are being conducted by both Senomyx and Firmenich.