EMERYVILLE, Calif.--(BUSINESS WIRE)--Amyris, Inc. (NASDAQ: AMRS) announced today that it has entered into a collaboration and joint development agreement with Firmenich, the largest privately-owned fragrance and flavor company, based in Geneva, Switzerland. This is the first agreement for Amyris in the fragrance and flavor industry and provides an opportunity to add higher-value ingredients to our expanding product portfolio. Under the agreement, Firmenich will fund technical development at Amyris to produce a sustainable, cost-effective and reliable source of a key ingredient for the fragrance and flavor market. Under the agreement, Amyris will manufacture and supply product to Firmenich, Firmenich will market and distribute the product, and the parties will share in the economic value derived. The agreement between the parties also grants worldwide exclusive commercialization rights in fragrance and flavor to Firmenich for the ingredient, which will be manufactured by Amyris. In addition, Firmenich has an option to collaborate with Amyris to develop a second ingredient.
“The fragrance and flavor market offers a significant additional opportunity for growth in our renewable chemicals business,” said John Melo, CEO of Amyris. “We are excited to be partnering with Firmenich as we apply our technology to produce an expanded range of No Compromise® molecules.”
“This collaboration with Amyris demonstrates our commitment to innovation and sustainability. As an industry leader in research and innovation, we seek and capture breakthrough ideas from around the world,” said Patrick Firmenich, CEO of Firmenich. “Amyris’s technology platform offers great potential to be a key source for sustainable and high-quality ingredients used in the fragrance and flavor market.”
Amyris’s synthetic biology platform creates living factories to produce specific, targeted molecules. Amyris’s technology platform may be applied to produce an array of ingredients currently used in the fragrance and flavor industry. Amyris designs its No Compromise products to provide high-quality solutions from sustainable and reliable sources and at competitive prices. To date, Amyris has focused its technical and commercial efforts on Biofene® (Amyris-produced farnesene) and its related derivatives. This initiative expands the company’s business beyond Biofene and demonstrates the flexibility of Amyris’s platform technology.
Amyris is building an integrated renewable products company by applying industrial synthetic biology to genetically modify microorganisms to serve as living factories. Amyris designs these microorganisms to produce defined molecules for use as renewable chemicals and transportation fuels. Amyris Brasil S.A., a subsidiary of Amyris, oversees the establishment and expansion of Amyris’s production in Brazil, including SMA Indústria Química S.A., its joint venture with São Martinho. In addition, Amyris is building fuels distribution capabilities in the United States through its subsidiary, Amyris Fuels LLC. More information about Amyris and its subsidiaries is available at www.amyris.com.
Firmenich is the world’s largest privately-owned company (no. 2 worldwide) in the fragrance and flavor business. Founded in Geneva, Switzerland, in 1895, it has created many of the world’s best-known perfumes and flavors that we enjoy each day. Its passion for smell and taste is at the heart of its success. Firmenich is renowned for its creativity and innovation, as well as its exceptional understanding of consumer trends. Each year, it invests around 10% of its turnover in R&D, reflecting its continuous desire to understand, share and sublimate the best that nature has to offer. More information about Firmenich is available at www.firmenich.com.
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as statements regarding Amyris’s expectations for its prospects in its renewable chemicals business) that involve risks and uncertainties. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including those associated with any delays in production and commercialization of products and other risks detailed in the “Risk Factors” section of Amyris’s final prospectus for its initial public offering, as filed on September 28, 2010 pursuant to Rule 424(b) under the Securities Act of 1933, and its quarterly report on Form 10-Q filed on November 10, 2010. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Amyris, Biofene and No Compromise are trademarks or registered trademarks of Amyris, Inc.