EMERYVILLE, Calif., Oct. 26, 2016 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company has executed definitive agreements for its strategic partnership and financing with a global nutraceuticals market leader as previously described on September 30, 2016. These agreements include the expansion of a new nutraceutical market that is expected to represent $40-$50 million of annual revenue once developed and scaled, a related strategic investment, and an unsecured credit facility of $25 million with a five-year maturity.
“We are very pleased with the significant traction we are experiencing in the first market we launched with this partner earlier this year and the speed by which we’ve been able to execute the expanded agreement into our second nutraceutical market with this partner. We expect the second nutraceutical product to reach full scale production in 2019 and combined with our first product with this partner we expect will generate approximately $100 million annually,” said John Melo, Amyris President & CEO. “We expect 2017 revenue from the first targeted product of around $40 million.”
Continued Melo, “We are very pleased with how well our partnership business model is delivering and the strategic nature of our partners.”
The closing of the collaboration expansion and credit agreements remains subject to obtaining certain required approvals.
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, and pharmaceuticals and nutraceuticals. 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 the expected annual revenue from the collaboration expansion once developed and scaled, the anticipated closing of the collaboration expansion and credit facility, the expected timeline to reach full scale production for the product under the collaboration expansion, and the anticipated annual revenue from all products under the partnership as well as from the first targeted product with the partner) 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 August 9, 2016. 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 Biofene are registered trademarks of Amyris, Inc.
Note to Editors: Please see news release issued September 30, 2016, entitled “Amyris Expands in Global Nutraceuticals Market with New Collaboration and Partner Funding of $30 Million.”