EMERYVILLE, Calif., Sept. 11, 2015 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced that it has entered into a Memorandum of Understanding for an exclusive distribution and reseller agreement with Contém 1G, one of the leading cosmetics companies in Brazil. Contém 1G has become one of the leading make-up brands in Brazil and has a unique distribution model through its 190 retail outlets located throughout Brazil.
According to a recent Bain & Company industry report, Brazil is the second-largest and one of the fastest-growing cosmetics markets in the world. The Biossance™ brand, with current and future products incorporating Amyris's Neossance® Squalane high-performance emollient derived from sustainable Brazilian sugar cane, is ideally suited for this market where there is growing interest in products created from natural sources.
Following completion of definitive agreements, Amyris plans to introduce Biossance™ The Revitalizer, its initial featured skin moisturizer, to Brazil around the end of this year. Amyris also plans to introduce an additional five Biossance products through 2016 and a hair care line by the end of 2016. Through the agreement contemplated by the Memorandum of Understanding, Amyris would gain access to Contém 1G's retail sales outlets as its exclusive skin care product line. The partnership would also provide Amyris with access to the world-class manufacturing and cosmetic-development facilities and capabilities of Contém 1G.
"This is a significant step for our Biossance brand where we see an opportunity for sales to Contém 1G in the range of $8 million to $12 million in the first year of the relationship, as well as a rapid expansion of the brand in a 'direct to consumer' sales model where consumers can try and buy our product immediately," said Caroline Hadfield, Senior Vice President, Personal Care, at Amyris. "After the initial launch of our first product, Biossance The Revitalizer, on our branded website (www.biossance.com), this agreement marks our first step toward growing retail sales and distribution channels for Biossance with companies like Contém 1G, which enjoy leading positions in the markets they serve."
Biossance The Revitalizer is a breakthrough facial moisturizer that replenishes the skin by using one of the emollients already found naturally within your body. An expanded line of five other Biossance products will be available in 2016.
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 Amyris and Contém 1G entering into definitive agreements based on the Memorandum of Understanding, Amyris's ability to increase sales of Biossance products through an agreement with Contém 1G, Biossance-brand product launch timing in Brazil, expected initial revenues from sales of Biossance products to Contém 1G, and Amyris's expectations to expand its Biossance product line and add new Biossance products through 2016), 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 those associated with negotiations of the details of any definitive agreement between Amyris and Contém 1G, any 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 August 10, 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, the Amyris logo, Neossance, Biossance, and Biossance The Revitalizer are trademarks or registered trademarks of Amyris, Inc. All other trademarks are the property of their respective owners.