Senomyx Announces Second Collaborative Agreement With Ajinomoto
Upon commercialization, Senomyx will be entitled to payments based on sales of Ajinomoto products containing any flavor ingredients discovered under the agreement.
12/10/06 Senomyx, Inc. has entered into a second research and commercialization agreement with Ajinomoto Co., Inc., a market leader in food and culinary products. During the three-year collaborative period, the company will work with Ajinomoto on the discovery and development of specific natural flavor ingredients. The agreement also covers exclusive worldwide commercialization of these specified new flavor ingredients in all product categories. Ajinomoto has agreed to pay Senomyx research funding and specified payments upon the achievement of milestones. Upon commercialization, Senomyx will be entitled to payments based on sales of Ajinomoto products containing any flavor ingredients discovered under the agreement.
"We are extremely pleased to establish our second collaboration with Ajinomoto, a leading worldwide food product manufacturer," said Kent Snyder, President and Chief Executive Officer of Senomyx. "We believe this natural ingredient initiative provides additional value to Senomyx by opening new market opportunities to reach consumers preferring all natural ingredients."
"Senomyx's strategy is to leverage our discovery and development capabilities by establishing collaborations with market leaders seeking to create a competitive advantage for their products," added Snyder. "It is especially rewarding to us when existing collaborators extend their partnerships with the company. We are privileged to strengthen our relationship with Ajinomoto by entering into a second collaboration for natural flavor ingredients. Senomyx now has nine product discovery and development collaborations with six of the world's foremost packaged food and beverage companies: Ajinomoto, Cadbury Schweppes, Campbell Soup, Coca-Cola, Kraft Foods, and Nestle," Snyder noted.
