Biotechnology company Senomyx has announced a two year extension of its collaboration deal with Kraft Foods Global, under which it works on the discovery and development of novel flavour modifiers.
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Under the terms of the extension, Kraft Foods has agreed to pay Senomyx incremental discovery and development funding of over $2.7m over the two-year extension period. Upon commercialization, Senomyx will be entitled to royalty payments based on sales of Kraft products containing any flavour enhancers developed under the agreement.
“We are extremely pleased to extend our collaboration with our long-standing partner, Kraft Foods,” said Kent Snyder, president and CEO of Senomyx. “We believe this extension, along with the expansion of the programme announced in May, provides further validation of our discovery and development technology and the commercial potential of our programmes.”
“Our goal is to continue to leverage our discovery and development capabilities by establishing additional collaborations with market leading companies seeking to create a competitive advantage for their products,” said Snyder.
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