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.
About Senomyx, Inc. ( www.senomyx.com)Senomyx is a leading company using proprietary taste receptor technologies to discover and develop novel flavor ingredients in the savory, sweet, salt, bitter, and cooling areas. The Company has product discovery and development collaborations with global food, beverage, and ingredient supply companies, some of which are currently marketing products that contain Senomyx’s flavor ingredients. For more information, please visit www.senomyx.com. Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: Senomyx’s ability to identify and develop novel flavor ingredients that provide a desired cooling taste effect and also possess other desirable characteristics; Senomyx's ability, or Senomyx's collaborators' ability, to commercialize products incorporating Senomyx's flavor ingredients in packaged foods and beverages and oral care and OTC healthcare products; and Senomyx’s right to receive research fees, milestone payments and royalties under its agreements with its collaborators. Risks that contribute to the uncertain nature of the forward-looking statements include: Senomyx is dependent on its product discovery and development collaborators for all of Senomyx's revenue; Senomyx is dependent on its current and any future product discovery and development collaborators to develop and commercialize any flavor ingredients Senomyx may discover; Senomyx may be unable to develop flavor ingredients useful for formulation into products; Senomyx or its collaborators may be unable to obtain and maintain the regulatory approval required for flavor ingredients to be incorporated into products that are sold; even if Senomyx or its collaborators receive a regulatory approval and incorporate Senomyx flavor ingredients into products, those products may never be commercially successful; and Senomyx's ability to compete in the flavor ingredients market may decline if Senomyx does not adequately protect its proprietary technologies. These and other risks and uncertainties are described more fully in Senomyx's most recently filed SEC documents, including its Annual Report on Form 10-K, under the headings "Risks Related to Our Business" and "Risks Related to Our Industry." All forward-looking statements contained in this press release speak only as of the date on which they were made. Senomyx undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.