Amyris, Inc. And Ipca Laboratories Sign Letter Of Intent For Development And Supply Of Active Pharmaceutical Ingredients
EMERYVILLE, Calif., June 9, 2015 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, and Mumbai, India-based Ipca Laboratories Ltd. ("Ipca") (NSE:IPCALAB), today announced that the companies have signed a Letter of Intent (LOI) to establish an agreement for Amyris to supply a key starting material for an active pharmaceutical ingredient to Ipca. This initial ingredient is expected to enable Ipca to more reliably and cost effectively compete with other manufacturers in the production of one its key pharmaceutical ingredients. It is anticipated that as further developments occur toward the signing of a definitive agreement that both companies will work together on other possible collaborations for additional pharmaceutical ingredients.
"We are pleased to sign this letter of intent with Ipca, which illustrates our ability to solve supply and time-to-market problems for companies in a variety of sectors," said John Melo, President & CEO of Amyris. "The biopharma sector poses an attractive growth opportunity for Amyris to pursue, and we are in ongoing discussions with several other potential partners in this space."
Earlier this year, Amyris launched an initiative under its µPharm™ (microPharm) discovery platform to add leading pharmaceutical companies to its array of collaboration and other partners. This strategic initiative was born of Amyris's historical expertise in creating a reliable supply of artemisinin for the treatment of malaria. Today's announcement marks an important step forward by Amyris in both building out and diversifying its customer base in the pursuit of large and growing global markets, such as the pharmaceuticals sector.
Amyris is the integrated renewable products company that is enabling the world's leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules, specialty ingredients and consumer products. The company is delivering its No Compromise® products in focused markets, including specialty and performance chemicals, fragrance ingredients, and cosmetic emollients. More information about the company is available at www.amyris.com.
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as expectations regarding the company's ability to establish a definitive agreement following execution of the LOI with Ipca and ability to supply key starting material to Ipca for an active pharmaceutical ingredient) that involve risks and uncertainties. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including, among other things, risks detailed in the "Risk Factors" section of Amyris's annual report on Form 10-Q filed on May 5, 2015. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Amyris is a registered trademark of Amyris, Inc.
CONTACT: Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 email@example.com
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