The fragrance technology company, Senomyx, has signed an exclusive research and license agreement with Swiss food group Nestle to discover and produce new ingredients to enhance the taste of some of its consumer food products.
Under the agreement, Nestle will provide research funding over a three-year period and additional payments will be made upon successful outcome of the research and also from royalties based on sales of products which use the new ingredients. Further details on the partnership were not revealed.
Paul Grayson, chairman and CEO of Senomyx, said: "It's an exciting time for Senomyx. We look forward to working with the world's largest food company."
"This collaboration highlights the value of our technology and expertise in improving consumer products," added Tracy Kohlenberg, vice president, Business Development and Corporate Counsel of Senomyx.
The company claims to be the leader in discovering new and improved proprietary paste and fragrance molecules for use in a wide range of consumer products. Its integrated technology platform combines an enhanced understanding of the biology of taste and smell with many of the same technologies and advancements that pharmaceutical companies have recently begun using to discover new medicines.