Evolva 1H Revenue Up; Company Expects Rev Boost from IFF Pact in '15

Evolva’s (Reinach, Switzerland) first-half revenue rose to CHF 5.0 million from CHF 4.0 million a year earlier, with about 91% of revenues from research fees and milestone payments from corporate partners.

As stated in April 2014, IFF has started the roll-out of its vanillin product which is expected to translate into revenues to Evolva starting from 2015. Total expenses increased due to research and development investments for Stevia and resveratrol as well as expanding its teams in manufacturing and marketing.

Also, the company has promoted Luc Gruner to the management team as chief sales and marketing officer. He joined the company in 2010 and had served recently as its business director.

Click here to read the earnings release.

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