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Senomyx Announces Two-Year Discovery and Development Collaboration
with Cadbury Schweppes
FRESHNEWS.COM
July 18, 2005
Senomyx, Inc. (NASDAQ: SNMX) announced today an exclusive two-year
collaborative research and license agreement with Cadbury Adams
USA LLC, a Cadbury Schweppes company, for the discovery and commercialization
of new flavor ingredients in the gum confectionary area. Under the
terms of the new agreement, Cadbury Schweppes has agreed to pay
Senomyx research funding and specified payments upon the achievement
of milestones during the collaborative period. Upon commercialization,
Senomyx will receive royalty payments based on sales of products
using the new flavor ingredients.
“We are pleased to establish a collaboration with Cadbury
Schweppes, a global leader in the confectionary market. We believe
this new agreement provides further validation of our discovery
and development technology and the commercial potential of our programs,”
stated Kent Snyder, President and Chief Executive Officer of Senomyx.
David Macnair, Cadbury Schweppes’ Chief Science and Technology
Officer, stated, “We know our consumers like to try new flavors
and have new flavor experiences. Our partnership with Senomyx will
help us continue to deliver those exciting new experiences, as together
we’re going to create some fantastic tasting gums.”
About Senomyx, Inc. (www.senomyx.com)
Senomyx is a biotechnology company using proprietary technologies
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 five of the world's leading packaged food and
beverage companies.
About Cadbury Schweppes
Cadbury Schweppes is a major international company that manufactures,
markets and sells confectionery and beverage treats and refreshments.
With origins stretching back over 200 years, Cadbury Schweppes'
brands are enjoyed today in almost every nation in the world. They
include regional and local favorites such as Cadbury, Trident, Dr
Pepper, Halls, Schweppes, Dentyne, Bassett's, Snapple, Orangina,
Bubblicious, Trebor and 7 UP.
The company employs over 50,000 people and has manufacturing operations
in more than 35 countries. It is the world's only confectionery
company with a strong position in chocolate, sugar and gum. It is
the world’s third largest soft drinks company.
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