Senomyx expands Cool Program with Firmenich
Senomyx, a company using proprietary taste science technologies to discover, develop, and commercialize novel flavor ingredients and natural high intensity sweeteners, and Firmenich, a manufacturer of flavors and fragrances, have announced the expansion of their Cool Program collaborative agreement.
Senomyx, a company using proprietary taste science technologies to discover, develop, and commercialize novel flavor ingredients and natural high intensity sweeteners, and Firmenich, a manufacturer of flavors and fragrances, have announced the expansion of their Cool Program collaborative agreement.
Under terms of the amended agreement, Firmenich will be granted an exclusive license to Coolmyx CL19 and related cooling ingredients in all product categories. This amendment also includes a license expansion for product categories covering applications in the flavor, oral care, and consumer product markets. Senomyx will receive an upfront payment of $10 million for the exclusive license and pre-payment of Cool Program royalty obligations covering the period from 2018 through 2020.
“We have been gratified by the significant third-party interest in this family of cooling ingredients, and we believe that Firmenich’s exclusive license of Coolmyx CL19 is an outstanding opportunity for both companies,” said John Poyhonen, president and CEO of Senomyx. “Signing this amended agreement is consistent with our goal of securing non-dilutive funding to support our corporate priorities.”