Amyris and Firmenich Announce Expansion of Collaboration in Flavors &
EMERYVILLE, Calif. and GENEVA, March 14, 2013 (GLOBE NEWSWIRE) -- Amyris, Inc.
(Nasdaq:AMRS), a leading renewable chemicals company, and Firmenich SA, a
leading global flavors and fragrances company, have announced a significant
expansion of their collaboration to develop and commercialize renewable
ingredients for the Flavors and Fragrances (F&F) market. Outside existing
Amyris relationships, the new collaboration agreement provides Firmenich with
exclusive access to the Amyris technology platform for the F&F market in
exchange for significant funding over the next six years.
"We are very pleased with the progress of our ongoing collaboration with
Amyris, grounded in our vision to be the leaders in renewable ingredients for
the flavor and fragrance market," said Patrick Firmenich, Chief Executive
Officer. "This partnership leverages Firmenich's world class biotechnology
platform within the F&F industry, enabled by our leading team of molecular
biologists and unique intellectual property, as well as, our deep client
intimacy and market understanding. Innovation and sustainability are critical
pillars of our business model. Thanks to this expanded partnership, we look
forward to consistently providing our clients with high-quality, sustainable,
and cost-competitive ingredients," emphasized Firmenich.
"We are excited to expand our productive collaboration with Firmenich," said
John Melo, Amyris President & Chief Executive Officer. "The rapid pace of our
targeted ingredient development so far confirms our ability to deliver a host
of disruptive, competitive ingredients to our partners and underscores the
strategic value of collaborations for Amyris."
Under a previous agreement established in November 2010, Firmenich funded
Amyris's research and development to produce up to three F&F ingredients, with
an initial fragrance oil targeted for commercialization in early 2014. Under
the new agreement, Amyris and Firmenich will jointly select additional target
F&F ingredients that Amyris will develop and manufacture. Firmenich will
market and distribute any ingredients resulting from the collaboration
exclusively in the F&F market. Both parties will share in the economic value
derived from the sale of these ingredients.
About the Companies
Amyris is an integrated renewable products company focused on providing
sustainable alternatives to a broad range of petroleum-sourced products.
Amyris uses its industrial synthetic biology platform to convert plant sugars
into a variety of hydrocarbon molecules—flexible building blocks that can be
used in a wide range of products. Amyris is commercializing these products
both as No Compromise® renewable ingredients in cosmetics, flavors and
fragrances, polymers, lubricants and consumer products, and also as No
Compromise renewable diesel and jet fuel. Amyris Brasil Ltda., a subsidiary of
Amyris, oversees the establishment and expansion of Amyris's production in
Brazil. More information about Amyris is available at www.amyris.com.
The Amyris, Inc. logo is available at
Firmenich is the largest privately-owned company in the perfume and flavor
business. Swiss, family-owned and founded in Geneva in 1895, it has created
many of the world's best-known perfumes and flavors that you enjoy each day.
Its passion for smell and taste is at the heart of its success. It is renowned
for its creativity and innovation, as well as its exceptional understanding of
consumer trends. Every year, it invests around 10% of its turnover in R&D,
reflecting its continued desire to understand, share and sublimate the best
that nature has to offer. The annual turnover for Firmenich was 2.64 billion
Swiss francs at end June 2012.
The Firmenich logo is available at
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 funding under a collaboration
agreement, development and commercialization of F&F ingredients, benefits of
potential F&F ingredients, the timing of commercialization of an initial F&F
ingredient, and ability to deliver renewable products to customers and
partners) 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 or failures in development, production or commercialization of
products, liquidity and ability to fund capital expenditures, Amyris's
reliance on third parties to achieve its goals, and other risks detailed in
the "Risk Factors" section of Amyris's quarterly report on Form 10-Q filed on
November 9, 2012. 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. This press release also contains trademarks of other businesses
that are the property of their respective owners.
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