SAN DIEGO--(BUSINESS WIRE)--Allylix, Inc., a technology leader in the science and production of terpenes, with a focus on high value flavors and fragrances, today announced that it had entered into an agreement to license its technology to a leading clean technology company to produce specific classes of terpenes. Under the agreement, Allylix will receive an upfront payment, research and development funding, and the potential for additional milestone payments, as well as a license to the technology platform of the clean technology company. Terpenes are a class of natural chemicals that hold tremendous promise across a wide range of industries. The clean technology company licensing Allylix’s technology, whose name the parties have agreed to keep confidential, plans to develop and commercialize terpene fuels and fuel additives.
