SAN DIEGO — Senomyx, Inc. (NASDAQ: SNMX), a leading company in using proprietary taste science technologies to discover, develop and commercialize novel flavor ingredients for the food, beverage and flavor industries, announced today that it has entered into a new collaborative agreement with PepsiCo, Inc. related to Senomyx’s Salt Taste Program. The new collaboration will support Senomyx’s continued work to identify flavors with modifying properties intended to restore the desired salty taste in products with reduced salt (sodium chloride).
Under the new agreement, PepsiCo will provide research funding for the Salt Taste Program for 2014 and has options to extend the research funding period. PepsiCo will have non-exclusive rights to salt flavor modifiers discovered during the research funding period. In addition, Senomyx will have the right to supply these flavor ingredients directly to PepsiCo. Financial terms of the agreement have not been disclosed.
“We are pleased to establish this new type of research agreement, which provides research funding to Senomyx while retaining our ability to add potential new flavor offerings to our direct sales portfolio,” said John Poyhonen, President and Chief Executive Officer of the Company.
About Senomyx, Inc.
Senomyx is using proprietary taste science technologies to discover, develop, and commercialize novel flavor ingredients. These include modifiers of Sweet and Salt flavors as well as Savory Flavors, Bitter Blockers, and Cooling Agents. The Company is also engaged in an effort to discover and develop natural high-potency sweeteners. Under its direct sales program, Senomyx is beginning to sell certain of its Complimyx™ brand flavor ingredients, Sweetmyx™ and Savorymyx™, to flavor companies for re-sale to their food and beverage company customers. In addition, Senomyx has collaborative agreements with global food, beverage, and ingredient supply companies, some of which are currently marketing products that contain Senomyx’s flavor ingredients. Senomyx’s corporate socially responsible activities are described on the Senomyx Cares blog at http://www.senomyx-csrblog.com/. For more information, please visit www.senomyx.com.