Senomyx, Inc. discovers, develops, and commercializes flavor ingredients for the packaged food, beverage and ingredient supply industries. The company considers flavor ingredients to include flavors, such as savory and cooling, and flavors with modifying properties, such as sweet and salt modifiers and bitter blockers. The company also has an ongoing effort to discover and develop natural high intensity sweeteners. The company licenses its flavor ingredients to its collaborators on an exclusive or co-exclusive basis. The company has collaborative agreements with various major packaged food, beverage and ingredient companies, including Ajinomoto Co., Inc.; Firmenich SA (Firmenich); Nestlé SA; and PepsiCo, Inc. (PepsiCo). The company is pursuing the discovery and development of flavor ingredients through three programs focused on sweet and salt taste. The company might also investigate other areas of taste as part of its research related to human taste biology. Sweet Taste Program The company’s Sweet Taste Program is focused on developing flavor ingredients or discovering natural high intensity sweeteners that address large global markets. The company has identified S2383, a novel modifier of the high-intensity sweetener sucralose; S6973 and S9632, two modifiers of sucrose, or common table sugar; and S617, a modifier of sucrose and high fructose corn syrup. Savory Flavor Program The company has received Flavor and Extract Manufacturers Association (FEMA) Generally Recognized as Safe (GRAS) determinations for several of its savory flavor ingredients, including S336 and S807. The company has one partner for this program with rights to its S336 flavor ingredient for all product categories in Asia (except Japan), operating under a retail and ingredient supply-based agreement. This partner also has non-exclusive rights to the company’s S807 flavor ingredient for all food and beverage categories in Asia (except Japan). Outside of the rights licensed to this partner, the company retains the rights for direct sales of all savory flavor ingredients for use in all product categories worldwide. Bitter Blocker Program The company’s bitter taste modifiers are intended to reduce the bitterness associated with certain bitter tastants, such as certain high intensity sweeteners, whey and other dairy proteins, cocoa, caffeine and menthol. These bitter tastants might be used in various products, including tea, nutritional beverages, protein bars, confectionary, ice cream, yogurt, desserts and baked goods. Two of the company’s bitter blockers, S6821 and S7958, have received FEMA GRAS determinations. S6821 has demonstrated activity against bitter tasting foods and beverages that include soy and whey proteins, menthol, caffeine, cocoa, and Rebaudioside A (stevia). S7958, a related bitter blocker with similar functionality, has alternative desirable physical properties that might be useful for these or other product applications. The company has one partner on this program with rights in coffee and coffee whitener products, in all geographies except North and South America, operating under an ingredient supply-based agreement with royalty payments based on the quantity of its flavor ingredient manufactured during the royalty period. For the open product categories, the company has a direct sales program to sell its novel flavor ingredients to targeted flavor companies for their use in proprietary flavor systems. Cooling Taste Program The company’s cooling taste agents are intended to improve upon the properties of existing cooling agents with benefits which might include odorless compared to menthol, greater potency or improved temporal sensory profiles. Existing cooling agents include menthol, WS-3, Frescolat ML & MGA, Cooler 1 & 2, and Evercool. These cooling agents might be used in a wide variety of products including tea, flavored waters, confectionary products such as chewing gum and mints, toothpaste and mouthwash. The company has identified various sample classes of new cooling agents that demonstrate a taste proof-of-concept and display preferred cooling properties. The company has one exclusive partner, Firmenich, for S2227 operating under an ingredient supply-based agreement with royalty payments based on their flavor system sales incorporating this cool flavor ingredient. Salt Taste Program The company has identified a small group of proteins that meet certain criteria for potentially being involved in salt taste, and has begun more advanced tests to determine if they function to detect salt.It has one partner, PepsiCo, for this program. Strategy The key elements of the company’s strategy include maintaining and expanding its technology position; developing flavor ingredients that are eligible for flavor and extract manufacturers association, or FEMA, GRAS, determination; collaborating with leading packaged food, beverage and ingredient companies; and pursuing market opportunities through direct sales. Patents and Proprietary Rights As of December 31, 2015, the company is the owner or the exclusive licensee of 226 issued United States patents, 41 pending United States patent applications, 304 issued foreign patents and 240 pending foreign applications covering various aspects of its proprietary technology. The company’s issued patents have terms that expire between 2019 and 2034. The earliest patent expiration for the company’s approved flavor ingredients is in 2024 for certain savory flavor ingredients. Competition The company competes with Firmenich, Givaudan SA; International Flavors & Fragrances Inc.; Symrise; Takasago; Ajinomoto; BRAIN AG, or Biotechnology Research and Information Network AG; Cargill; GLG Life Tech; Natur Research Ingredients; Nutrasweet; Nutrinova GMBHl PureCircle Limited and Tate & Lyle; International Flavors and Fragrances; Jindal Drugs; Mentha & Allied,; and Sharp Menthol. History Senomyx, Inc. was founded in 1998. The company was incorporated in 1998 in Delaware.
(SNMX:Consolidated Issue listed on NASDAQ Global Market)
4767 Nexus Centre Drive
San Diego, CA 92121
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