US biotech company Senomyx has announced that it has reached agreement for a three-year extension of the collaborative research phase under its initial discovery and development agreement with Swiss food giant Nestlé.
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The agreement is focused on the discovery and commercialisation of novel flavours and flavour enhancers in the dehydrated and culinary food and frozen food fields, among other product categories.
Under the terms of the extension, based on research progress Nestlé has agreed to pay Senomyx incremental discovery and development funding of up to US$6.6m over a period of up to an additional three years. Upon commercialisation, Senomyx will receive royalty payments based on sales of products containing flavours and flavour enhancers developed under the agreement.
Senomyx also has a second collaboration with Nestlé, which was entered into in 2004, for the discovery and commercialisation of novel flavour ingredients in the coffee and coffee whitener fields.
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By GlobalData
