Senomyx's Discovery of a Promising New Flavor Ingredient Achieves
SAN DIEGO, CA - October 28, 2008 /PRNewswire-FirstCall/ -- Senomyx, Inc. (Nasdaq: SNMX), a leading company focused on using proprietary technologies to discover and develop novel flavor ingredients for the food, beverage and ingredient supply industries, announced today that it has received a payment from The Coca-Cola Company (NYSE: KO) related to a milestone achieved by Senomyx under the companies' collaborative research, development, commercialization and license agreement. The milestone was associated with Senomyx's discovery of a promising new flavor ingredient.
"Senomyx has accomplished an important milestone under our collaboration with The Coca-Cola Company, the world's largest beverage company," noted Kent Snyder, President and Chief Executive Officer of the Company. "This is an exciting time for Senomyx as we continue development activities with a new flavor ingredient that can be used to reduce the amount of sugar in beverages and foods while retaining the desired taste."
About Senomyx, Inc. (http://www.senomyx.com)
Senomyx is a leading company using proprietary taste receptor technologies to discover and develop novel flavor ingredients in the savory, sweet, salt, bitter, and cooling areas. Senomyx has entered into product discovery and development collaborations with seven of the world's leading food, beverage, and ingredient supply companies: Ajinomoto Co., Inc., Cadbury plc, Campbell Soup Company, The Coca-Cola Company, Firmenich SA, Nestle SA, and Solae. Nestle is currently marketing products that contain one of Senomyx's flavor ingredients. For more information, please visit http://www.senomyx.com.
Statements contained in this press release regarding matters that are
not historical facts are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Because such
statements are subject to risks and uncertainties, actual results may
differ materially from those expressed or implied by such forward-looking
statements. Such statements include, but are not limited to, statements
regarding: the capabilities and potential for Senomyx's new flavor
ingredient; and Senomyx's ability to continue to meet the goals set forth
in its collaboration with The Coca-Cola Company. Risks that contribute to
the uncertain nature of the forward-looking statements include: Senomyx is
dependent on its product discovery and development collaborators for all of
Senomyx's revenue; Senomyx is dependent on its current and any future
product discovery and development collaborators to develop and
commercialize any flavor ingredients Senomyx may discover; Senomyx may be
unable to develop flavor ingredients useful for formulation into products;
new flavor ingredients must undergo safety review and not all new flavor
ingredients may be safe for their intended uses; Senomyx or its
collaborators may be unable to obtain and maintain the regulatory approval
required for flavor ingredients to be incorporated into products that are
sold; even if Senomyx or its collaborators receive a regulatory approval
and incorporate Senomyx flavor ingredients into products, those products
may never be commercially successful; and Senomyx's ability to compete in
the flavor ingredients market may decline if Senomyx does not adequately
protect its proprietary technologies. These and other risks and
uncertainties are described more fully in Senomyx's most recently filed SEC
documents, including its Annual Report on Form 10-K and Quarterly Reports
on Form 10-Q, under the headings "Risks Related to Our Business" and "Risks
Related to Our Industry." All forward-looking statements contained in this
press release speak only as of the date on which they were made. Senomyx
undertakes no obligation to update such statements to reflect events that
occur or circumstances that exist after the date on which they were made.
Vice President, Investor Relations & Corporate Communications
|SOURCE Senomyx, Inc.|
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