Amyris, Inc. Enters Into First Product Development And Production Agreement With Royal DSM For Food And Nutrition Molecule
EMERYVILLE, Calif., July 17, 2017 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announces that it has entered into its first product development and production agreement with Koninklijke DSM N.V. (Royal DSM) (AEX:DSM.AS), the global science-based company active in health, nutrition and materials, to develop a food and nutrition molecule for which DSM is a major market provider.
As part of the previously announced equity investment DSM is making into Amyris, DSM and Amyris have agreed to focus on a number of short- to medium-term product development & production opportunities in vitamins and other nutritional ingredients. This agreement is the first of what is expected to be several of such development and production projects.
As part of the agreement, DSM will partner with Amyris and fund the development of the technology to produce the specific molecule that Amyris will scale and supply long term to deliver improved performance while growing its business. DSM will take the molecule to market utilizing its channel and market access and take advantage of Amyris’s biotechnology production, which provides a lower cost of production than currently available.
"We are very excited to partner with DSM on our first product development and production agreement," said John Melo, Amyris President & CEO. "This is the first of what are expected to be several highly disruptive products addressing major markets where, together, we can leverage Amyris’s technology platform to reduce cost for products DSM then takes to market in a cost-advantaged position."
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 and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.
This release contains forward-looking statements regarding Amyris, and any statements regarding Amyris 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 expected future development and production projects between Amyris and DSM, Amyris’s anticipated cost of production for the molecule subject to the current development and production agreement with DSM, and Amyris’s expected future performance and business growth) 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 risks related to manufacturing capacity at Amyris's Brotas facility, delays or failures in development, production and commercialization of products, liquidity and ability to fund capital expenditures, Amyris's reliance on third parties to achieve its goals, and other risks detailed in the "Risk Factors" section of Amyris's quarterly report on Form 10-Q filed on May 15, 2017. 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, the Amyris logo and No Compromise are registered trademarks of Amyris, Inc. All other trademarks are trademarks of their respective owners.
Contact: Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 investor@Amyris.com pr@Amyris.com