This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

SENOMYX ANNOUNCES EXPANSION OF FIRMENICH COLLABORATION TO INCLUDE DISCOVERY, DEVELOPMENT, AND COMMERCIALIZATION OF NATURAL SWEET ENHANCERS

Dec. 2, 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 Firmenich SA has exercised its option to expand the companies’ collaboration related to Senomyx’s sweet-taste technology to include the discovery, development, and worldwide commercialization of natural flavor ingredients intended to enhance the taste of sucrose, fructose, and Rebaudioside (stevia). This expansion will complement Senomyx’s collaboration with PepsiCo, Inc., which is focused on the discovery, development, and commercialization of natural and artificial enhancers of sucrose and fructose for use in non-alcoholic beverages.

Senomyx and Firmenich, the world's largest privately-owned fragrance and flavor company, initiated the existing collaboration agreement for the discovery and development of sweet enhancers in July 2009. 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 artificial sweet enhancers in all food product categories, and on a co-exclusive basis in powdered beverages.

In consideration of the expansion of the agreement, Firmenich will pay to Senomyx additional research funding as well as milestones, minimum annual royalties, and royalties on sales of natural sweet enhancers developed under the collaboration. Firmenich is currently committed to fund ongoing research under the agreement through July 2011 and has annual options that could further extend the collaborative research funding period through July 2014.

“Senomyx’s Sweet Taste Program has achieved significant accomplishments, including the discovery and development of our sucralose enhancer and our first sucrose enhancer, both of which have received regulatory approval and are now in the commercialization stage,” said Kent Snyder, Chief Executive Officer of the Company. “We believe Firmenich’s decision to expand the collaboration to include natural sweet enhancers is a reflection of the success of our novel technologies, the positive working relationship between the two companies, and the large market opportunity for natural flavor ingredients. Firmenich has been a valuable partner and we look forward to working with them on this new and exciting area.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,151.80 +177.49 1.05%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,562.3990 +13.1730 0.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs