SENOMYX TO COLLABORATE WITH FIRMENICH FOR COMMERCIAL DEVELOPMENT OF ITS S6973 SUCROSE ENHANCER IN BEVERAGE APPLICATIONS
October 25, 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
October 25, 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 collaborative agreement with Firmenich SA regarding the research, development, and commercialization of sweet enhancers has been expanded to include commercial development of S6973, Senomyx’s novel enhancer of sucrose, for specific beverage applications. Earlier in the year Firmenich, the world's largest privately-owned fragrance and flavor company, made a decision to proceed with commercial development of S6973 for virtually all food product categories and in select powdered beverages. The amended agreement provides Firmenich with an exclusive worldwide license for commercialization of S6973 for use in instant and ready-to-drink milk, tea and coffee beverages, and also converts Firmenich’s license for use of S6973 in powdered beverages from co-exclusive to exclusive. In return, Senomyx will receive an additional license fee, incremental milestone payments and minimum annual royalties, as well as royalties on sales of S6973 for use in the additional product categories. “We believe that selecting Firmenich as our partner for these additional categories provides Senomyx with the best opportunity to accelerate commercialization and maximize commercial revenue for S6973,” said Kent Snyder, Chief Executive Officer of the Company. “We have been impressed by Firmenich’s progress with S6973 in the food product categories, including their efforts in product development, manufacturing scale-up, and demonstrations with key clients. We look forward to the commercial launch of S6973 in 2011.” S6973 is a unique enhancer of sucrose that has demonstrated the ability to reduce up to 50% of the sucrose in a variety of products while maintaining the taste of natural sugar. Senomyx has received Generally Recognized As Safe (GRAS) determination for the use of S6973 in a large number of food products, as well as milk and other dairy products, instant and ready-to-drink coffee and tea categories, and imitation dairy products such as non-dairy creamers and whiteners. The GRAS regulatory designation allows usage in the U.S. and in numerous other countries.