SAN DIEGO–(BUSINESS WIRE)–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 it has expanded and extended its collaborative
research, development, commercialization and license agreement with The
Coca-Cola Company (NYSE:KO). During the extension period, the companies
will continue to cooperate on activities related to the discovery,
development, and worldwide commercialization of new flavor ingredients.
For more information regarding the agreement, please see the related 8-K
filing by Senomyx with the Securities and Exchange Commission.
“Senomyx is privileged to continue working
with The Coca-Cola Company, the world‘s
largest beverage company,“ said Kent Snyder,
President and Chief Executive Officer of the Company. “Senomyx
achieved significant progress during the past year with the
identification of new flavor ingredients that can be used to reduce the
amount of both non-nutritive and natural sweeteners in foods and
beverages while retaining the desired taste.“
About Senomyx, Inc. (target=”_blank” href=”http://www.senomyx.com/” shape=”rect”>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. 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 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
sufficiently potent sweet taste effect; the capabilities of Senomyx’s
flavor ingredients, Senomyx’s ability, or Senomyx’s collaborators’
ability, to commercialize products incorporating Senomyx’s flavor
ingredients in packaged foods and beverages; 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.