PepsiCo and Senomyx Extend Sweet Prgogram Collaboration
PepsiCo has exercised its option to extend its collaborative agreement with Senomyx, a leading company using proprietary taste science technologies to discover, develop and commercialize novel flavor ingredients for the food, beverage and flavor industries. The collaborative agreement, which relates to Senomyx’s sweet-taste technology, has been extended for an additional two years, until August 2016.
PepsiCo will continue to have exclusive worldwide rights to the Senomyx sweet flavor ingredients developed under the collaboration for use in non-alcoholic beverage categories. Under the agreement, Senomyx will be entitled to committed research funding payments over the additional two-year period. Senomyx also will remain eligible for milestone payments based upon the achievement of predetermined goals, as well as royalty payments.
The novel flavor ingredients developed by Senomyx include modifiers of sweet and salt flavors as well as savory flavors, bitter blockers, and cooling agents. The company is also engaged in an effort to discover and develop natural high-potency sweeteners.
Under its direct sales initiative, Senomyx is beginning to sell certain of its flavor ingredients to flavor companies for re-sale to their food and beverage company customers. In addition, Senomyx has collaborative agreements with global food, beverage, and ingredient supply companies, some of which are currently marketing products that contain Senomyx’s flavor ingredients.
