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Senomyx's CEO Presents At Citi 2012 Global Consumer Conference - Conference Call Transcript

Senomyx is a little bit different company than what you're going to see probably at the rest of the conference. We're a company that has taken a set of science that was discovered kind of the biotech pharmaceutical industry and we put it into what we called taste science and levied that body of science to come up with novel flavor ingredients and as David said, for the food, beverage and flavor ingredient companies.

The reason why we're doing this type of work that we're undertaking at Senomyx is that we're trying to address some of the challenges that food and beverage companies face such as health concerns, too much calories being consumed by consumers, the need for innovation, the need to control cost and foremost it's either to maintain an improved taste.

So at Senomyx we have five different programs. We'll cover with the Sweet Taste program in some detail later on but though the idea is to decrease the amount of added sweeteners and calories and products.

We have a Savory Flavors program, though the idea is to reduce or eliminate added MSG or monosodium glutamate from food and beverage products.

The Bitter Blocker program is just that to block the bitter taste of certain foods and beverages. We have a Cooling Flavor program where the idea is to discover novel cooling agents, improvements over menthol, if you will. And then we have a Salt Taste program, though the idea is to reduce added salted products again with health innovation being the primary driver of that program.

And we'll get into this in a little bit more detail but before we start talking about our individual programs, it's important to understand just a little bit about the physiology of the taste.

So we know where taste-bud are located on the tongue and we know that there are five basic taste. Sweet, salt, bitter, sour and the taste of MSG which is what we call savory, the Japanese call it umami. And so we know that, if you take a cross section of the taste-bud, you would see a bundle of cells and that's depicted on the right hand portion of the screen.

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