Amyris Announces Multi-Year, Multi-Million-Dollar Agreement with Global Food Ingredients Supplier
Amyris, Inc.--the industrial bioscience company--has announced a multi-year, multi-million-dollar collaboration agreement with a global food ingredients supplier. This agreement marks Amyris's first collaboration in the growing food ingredients sector. The partner will provide funding for the development program, which Amyris will be responsible for executing, and the agreement includes a long-term value share provision in regard to future end-market product sales by the partner. Under the terms of the agreement, the company is unable to disclose details of the collaboration.
"We're excited with the continued momentum in executing our plan with growing our collaboration partnerships," says John Melo, president and CEO of Amyris. "This collaboration adds to our current portfolio of collaboration partners and our growing portfolio of over 20 products under agreement with more than 10 partners. We are on track to introduce three new commercial products this year for our partners as a result of our earlier collaborations. Collaborations continue to fund our direct R&D costs and provide strong product revenue growth."
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