Senomyx, Inc. (NASDAQ: SNMX), a leading
company focused on using proprietary taste receptor technologies to
discover and develop new flavor ingredients for the food, beverage,
and ingredient supply industries, announced today the two-year
extension of its collaborative research and license agreement with
Nestlé SA, the world's largest food and beverage company. The program
being extended under the agreement is focused on the discovery and
commercialization of new flavor ingredients for use in the dehydrated
and culinary food and frozen food fields. Upon commercialization,
Senomyx will receive royalty payments based on sales of products
containing flavor ingredients developed under the agreement. Nestlé is
currently marketing products that contain Senomyx's savory flavor
ingredients, which were discovered and developed under another program
covered by the agreement.
"We are very pleased to extend this
research and license agreement with Nestlé," said Kent Snyder,
President and Chief Executive Officer of the Company. "Nestlé has been
a valued long-term partner for several of our Discovery &
Development programs, and we look forward to continuing our work with
them."
Senomyx also has an additional
collaborative agreement with Nestlé, which was entered into in 2004,
for the discovery and commercialization of new flavor ingredients in
the coffee and coffee whitener fields.
In addition to Nestlé, Senomyx has
product discovery and development collaborations with Ajinomoto Co.,
Inc., Cadbury Schweppes, Campbell Soup Company, The Coca-Cola Company,
Firmenich SA, and Solae. "We believe that our collaborations with these
world-leading companies provide further validation of Senomyx's
technology and the commercial potential of our programs," Snyder noted.
About Senomyx, Inc.(www.senomyx.com)
Senomyx is a leading company using
proprietary taste receptor technologies to discover and develop new
flavor ingredients in the savory, sweet, salt, bitter, and cooling
areas. Senomyx has entered into product discovery and development
collaborations with seven of the world's leading food, beverage, and
ingredient supply companies: Ajinomoto Co., Inc., Cadbury Schweppes,
Campbell Soup Company, The Coca-Cola Company, Firmenich SA, Nestlé SA,
and Solae. Nestlé is currently marketing products that contain one of
Senomyx's flavor ingredients. For more information, please
visitwww.senomyx.com.
