Senomyx and Firmenich expand on Cool Program collaboration
15 Nov 2017 --- Senomyx, Inc., a company using proprietary taste science technologies to develop and commercialize novel flavor ingredients and natural high-intensity sweeteners, and Firmenich have announced the expansion of their Cool Program collaborative agreement.
With the amendment to their Cool Collaboration Agreement, Firmenich continues its long-standing tradition of investing in innovation. Under terms of the amended agreement, Firmenich will be granted an exclusive license to CoolmyxTM CL19 and related cooling ingredients in all product categories. This amendment also includes a license expansion for product categories covering applications in the flavor, oral care and consumer product markets.
“At Firmenich, we are committed to driving world-class research as well as innovative partnerships to create winning solutions for our customers,” says Gilbert Ghostine, CEO Firmenich. “Building on our unique end-to-end solutions in mint, I am excited to be expanding our cooling and freshness technologies to create tailored and high-performance experiences that delight consumers worldwide.”
“I believe in putting our science to work to improve consumers’ quality of life and enhance their well-being,” says Professor Geneviève Berger, Chief Research Officer, Firmenich. “With this extended technology portfolio, combined with our deep understanding of taste and smell, we will shape unique sensorial experiences that convey freshness and comfort, while fuelling a sense of vitality and readiness for the day ahead.”
“During the second quarter, Senomyx engaged an advisor to pursue strategic options related to certain flavor ingredient assets,” states John Poyhonen, President and Chief Executive Officer of Senomyx.
“We have been gratified by the significant third-party interest in this family of cooling ingredients, and we believe that Firmenich's exclusive license of Coolmyx CL19 is an outstanding opportunity for both companies. Signing this amended agreement is consistent with our goal of securing non-dilutive funding to support our corporate priorities,” he explains.
End-to-end excellence in mint
Cooling technologies are especially sought after in oral care, confection and mint applications as they ignite sensations of cleanness and long-lasting freshness. “Building on our unique end-to-end business model in mint, I am delighted to be adding these exclusive cooling technologies to our portfolio,” says Cedric Fischer, Vice President Mint Business Unit at Firmenich.
“We can now offer our customers ever more tailored and high impact mint experiences across all product categories,” he adds. Firmenich is the only Fragrance and Flavor House with fully integrated end-to-end mint solutions. It offers its customers the broadest range of mint varieties, with a unique breeding program at source dedicated to shaping tailored and game-changing experiences from flavors to personal care experiences.
Broadening consumer sensorial experiences
Beyond mint, cooling, freshness and cleanness attributes are rapidly gaining traction across many consumer product categories for the sense of vitality, energy, hygiene and comfort they convey. Building on its extensive consumer insights, as well expertise in taste and smell, Firmenich is applying its cooling technologies to meet the growing consumer trend for freshness cutting across foods and beverages, all the way to personal care products.
Under the terms of the amended agreement, Senomyx will receive an upfront payment of US$10 million for the exclusive license and pre-payment of Cool Program royalty obligations covering the period from 2018 through 2020. Under the terms of the amended agreement, Firmenich's royalty payment obligations will resume in 2021 and will continue through the length of the agreement.
