Senomyx Announces Extension of Discovery and Development Collaboration with Kraft Foods Global, Inc.
In addition to this collaboration, Senomyx and Kraft Foods are working together on the discovery and development of novel flavor modifiers in the chilled and processed meat product category.
20/07/07 Senomyx, Inc., a leading company focused on using proprietary technologies to discover and develop novel flavor ingredients for the packaged food and beverage industry, announced the extension of its discovery and development collaboration with Kraft Foods Global, Inc. through December 2008. The extension allows Kraft Foods to continue its evaluation of novel flavor modifiers under development by Senomyx for potential use by Kraft Foods on an exclusive basis in a specified product field in the dessert product category and on a co- exclusive basis in the powdered beverage product field. In addition to this collaboration, Senomyx and Kraft Foods are working together on the discovery and development of novel flavor modifiers in the chilled and processed meat product category. Upon commercialization, Senomyx will receive royalty payments based on sales of products using the new flavor ingredients.
"We are very pleased to continue our collaboration with Kraft Foods, a long-term and valued partner," said Kent Snyder, President and Chief Executive Officer of Senomyx. "We appreciate our ongoing relationship with them."
Senomyx currently has product discovery and development partnerships with seven of the world's foremost packaged food and beverage companies: Ajinomoto Co., Inc., Cadbury Schweppes, Campbell Soup Company, The Coca-Cola Company, Kraft Foods Global, Inc., Nestle SA, and Solae.
