Most Popular in:
Redpoint Bio Reports Loss as Work Continues on Sweetness Enhancer
Posted: November 13, 2009
Redpoint Bio Corp. (Ewing, New Jersey) has reported a net loss of $2.4 million and no revenue for the third quarter of 2009, against the 2008 comparables of $2.6 million and $1.1 million, respectively. The company’s revenues for the first nine months were $4.6 million (2008: $6.5 million), primarily generated from its collaboration with Givaudan, which was terminated in May this year.
RedpointBio is working on the recently discovered natural sweetness enhancer RP44, which it intends to develop through the GRAS determination/notification process. Of this, CEO Ray Salemme, said, “We are actively seeking a commercial partner and have recently begun to provide RP44 to major ingredient suppliers and food and beverage companies which are in the process of evaluating our all natural sweetness enhancer in their own taste systems.”