Redpoint Bio Corp. (Ewing, New Jersey) has entered into a license and commercialization agreement with IFF (New York) for the commercialization of RP44, Redpoint's natural sweetness enhancer. The material is derived from the stevia plant and amplifies the existing sugary sweetness in a food or beverage, allowing for a reduced amount of overall sweetener, while retaining a clean taste associated with sugar.
For five years, IFF will have exclusive rights to develop, manufacture and commercialize RP44 in food and beverage product categories. Redpoint will receive an upfront payment of $0.5 million and will be eligible to receive up to $1.0 in milestone payments based on certain criteria. Redpoint also will receive royalties based on the amount of RP44 purchased by IFF for use in products. IFF will assume responsibility for the regulatory process and for costs associated with prosecuting and maintaining Redpoint's intellectual property covering the sweetness enhancer.
Of the announcement, Ray Salemme, CEO of Redpoint, said, "IFF represents an ideal partner for us, providing outstanding regulatory and product development capabilities. With IFF's support, we believe we can maximize the value of RP44 as an all-natural sweetness enhancer used to make better tasting and healthier foods and beverages. We are confident in their ability to have it introduced into the marketplace as quickly, broadly and efficiently as possible."
