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Freshnews.com San Diego, CA May 2, 2005 Senomyx, Inc. (NASDAQ:SNMX) announced today the expansion and extension of the collaborative research phase under its discovery and development agreement with Kraft Foods Global, Inc., a global leader in branded foods and beverages. During the extension period which runs through July 30, 2005, the company will begin working with Kraft Foods on an exclusive basis on the discovery and development of novel flavor modifiers in a new product field in the dessert category. The company will also continue to work with Kraft Foods for the discovery and development of novel flavor enhancers on a co-exclusive basis in an existing specified food and beverage product field. Kraft Foods has agreed to continue its existing research funding to the company during the extension period. During the extension, the company will continue discussions with Kraft Foods regarding a further extension of the collaborative research phase and additional opportunities to expand the collaboration. Senomyx will be entitled to royalty payments based on sales of Kraft products containing any flavor enhancers developed under the agreement. "We are extremely pleased to expand our collaboration with our long- standing partner, Kraft Foods," stated Kent Snyder, President and Chief Executive Officer of Senomyx. "During the extension period, we will continue discussions with Kraft Foods regarding additional opportunities to expand our collaboration," added Snyder. About Senomyx, Inc. Senomyx is a biotechnology company using proprietary taste receptor-based assays, screening technologies and optimization chemistry to discover and develop novel flavors, flavor enhancers and taste modulators for the packaged food and beverage industry. Senomyx's current programs focus on the development of flavors, flavor enhancers and taste modulators in the savory, sweet, salt and bitter taste areas. Senomyx has entered into product discovery and development collaborations with four of the world's leading packaged food and beverage companies: Campbell Soup Company, The Coca-Cola Company, Kraft Foods Global, Inc. and Nestle SA. About Kraft Foods Global, Inc. Kraft Foods Global, Inc. is the largest branded food and beverage company headquartered in the United States and the second largest worldwide. Kraft Foods markets many of the world's leading food brands, including Kraft cheese, Jacobs and Maxwell House coffees, Nabisco cookies and crackers, Philadelphia cream cheese, Oscar Mayer meats, Post cereals and Milka chocolates, in more than 150 countries. |
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