EMERYVILLE, Calif., July 16, 2015 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced a multi-year, multi-million-dollar collaboration agreement with a global food ingredients supplier. This agreement marks Amyris's first collaboration in the growing food ingredients sector. The partner will provide funding for the development program, which Amyris will be responsible for executing, and the agreement includes a long-term value share provision in regard to future end-market product sales by the partner. Under the terms of the agreement, the company is unable to disclose details of the collaboration.
"We're excited with the continued momentum in executing our plan with growing our collaboration partnerships," said John Melo, President & CEO of Amyris. "This collaboration adds to our current portfolio of collaboration partners and our growing portfolio of over 20 products under agreement with more than 10 partners. We are on track to introduce three new commercial products this year for our partners as a result of our earlier collaborations. Collaborations continue to fund our direct R&D costs and provide strong product revenue growth."
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 growing collaboration partnerships and product offerings, introduction of three new commercial products in 2015, and funding and prospects for a new collaboration) 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 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