Tate & Lyle announce multiyear partnership with Codexis
In the second such deal in recent months, London based ingredients manufacturer Tate & Lyle has unveiled a new extended partnership with Codexis, who will provide research and development for the production of new novel food ingredients.
In December of last year, a contract was signed for supply between the two companies; the new agreement will strengthen this partnership, say Codexis, by providing Tate & Lyle enzyme technology improvements developed by Codexis.
In return, the Californian company will receive a payment of an undisclosed amount in the second quarter of 2017.
John Nicols, president and chief executive officer at Codexis said: “We are delighted to expand our partnership with Tate & Lyle with this new development agreement and to show our growing penetration into the global food industry. This agreement also highlights our strategy to enhance shareholder returns by developing novel protein technology on our own account and subsequently using that de-risked technology as a base to create enhanced customer partnerships. We successfully employed this strategy here with Tate & Lyle.”
