Outside existing Amyris relationships, the new collaboration agreement provides the Swiss company 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 on-going collaboration with Amyris, grounded in our vision to be the leaders in renewable ingredients for the flavour and fragrance market", says Patrick Firmenich, CEO.
Market understanding
The partnership leverages Firmenich's biotechnology platform within the flavour and fragrance industry, which it says is boosted by its team of molecular biologists and unique intellectual property; developing its 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," adds Firmenich.
Likewise, Amyris president and CEO, John Melo, confirmed his satisfaction at the expanded collaboration.
"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," he says.
Agreement terms
Under a previous agreement established in November 2010, Firmenich funded Amyris's research and development to produce up to three flavour and fragrance ingredients, with initial fragrance oil targeted for commercialization in early 2014.
Under the new agreement, Amyris and Firmenich will jointly select additional target flavour and fragrance ingredients that Amyris will develop and manufacture.
Firmenich will market and distribute any ingredients resulting from the collaboration exclusively in this market. Both parties will share in the economic value derived from the sale of these ingredients.