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International Flavors & Fragrances Inc. (IFF) and Amyris have completed the first phase of their collaboration to develop a specific set of renewable fragrance ingredients and agreed to move forward with the second phase of development.
"In our 125-year history, we have been market leaders in the area of innovation and this recent work with Amyris reflects our continuing commitment to lead in this area," said Nicolas Mirzayantz, IFF's group president, fragrances. "We believe that the creation of cost-effective molecules will have a positive impact on our fragrance ingredients business as well as the creative capabilities of our fragrance compounds business."
John Melo, Amyris president and CEO said: "We are extremely pleased with the success in our collaboration with IFF and are optimistic about the prospect for scaling up new fragrance compounds using our technology platform."
In April 2013, IFF and Amyris agreed to develop a sustainable, cost-effective and reliable source of key fragrance ingredients. The parties have agreed to pursue the second phase of development. As previously disclosed, under the terms of the multi-year agreement, IFF will have exclusive rights to the renewable fragrance ingredients developed for applications in the flavors and fragrances sector, and Amyris will have exclusive rights in other sectors.