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Senonymx Extends Campbell’s, Ajinomoto Collaboration Agreements
Posted: April 3, 2009
Senomyx Inc. (San Diego, California) has announced the extension of its research and license agreements with Campbell’s Soup Company (Camden, New Jersey) and Ajinomoto Co. Inc. (Tokyo).
As per the terms of extension, both Campbell’s and Ajinomoto will fund the research activities (for discovery of new ingredients for wet soups and savory beverage segments, and discovery and development of flavor ingredients for use in the soup, sauce and culinary aids, noodles, and bouillon product categories in Asia, respectively) for one year with three annual options of one year each, which could further extend the collaborations. In addition, the discovery and development funding paid by Ajinomoto to Senomyx will be at a higher level than for previous years; the extension will not impact the companies’ activities with existing flavor ingredients covered by the agreement.
Further, if the research activities succeed, Senonymx could receive a milestone payment as well as royalties from both Campbell’s and Ajinomoto based on net sales of products using the new ingredients.