San Diego, June 5 - Senomyx, Inc., a leading company focused on using proprietary technologies to discover and develop new flavor ingredients for the packaged food and beverage industry, announced today that Nestle SA, the world's largest food company, has begun the initial commercial introduction of the first food products that contain Senomyx's savory flavor ingredients.
Under the terms of its agreement with Nestle, Senomyx will receive royalty payments based on sales of products containing its flavor ingredients.
"Senomyx is extremely pleased that a company of Nestle's reputation and stature has begun marketing its first food product that includes one of our savory flavor ingredients," said Kent Snyder, President and Chief Executive Officer of the Company. "This is the first commercial launch of foods that incorporate a Senomyx flavor ingredient, and it represents a significant achievement for us and a validation of the Company's technology and products. We thank Nestle for their commitment and cooperation in bringing this launch to fruition, and we highly value our ongoing collaboration with them."
The first new product, which is within the bouillon category, has been introduced by the Nestle sales organization in a Pacific Rim country and orders are being taken for shipment in July. Senomyx anticipates that up to eight different products in the dehydrated, culinary, and bouillon food categories will be launched on a rolling basis in countries in the Pacific Rim, Central West Africa and Latin America, including Brazil, over the course of 2007. Future commercialization updates will be provided during the Company's earnings calls.