During the collaborative research period, Senomyx will continue to work with Campbell on the discovery and commercialisation of new ingredients that improve the taste of wet soups and savoury beverages.
Under the extension, Campbell will provide research funding for one year, with three annual options of one year each that could extend the collaboration. In addition, upon successful outcome of the research, Senomyx may receive a milestone payment as well as royalties based on net sales of products using the new ingredients.
“Senomyx is very pleased to continue our long-standing relationship with Campbell, whose renowned market-leading brands include soup, baked snacks and healthy beverages,” said Kent Snyder, president, CEO and chairman of the board of the company. “Like our partners, Senomyx is committed to using innovative approaches to create flavoursome, lower-sodium products. This is an exciting time for the company as we continue to evaluate potential new flavour ingredients that could maintain the salty taste desirable to consumers, while facilitating a meaningful reduction of sodium in foods and beverages.
“This is the second agreement that Senomyx has extended with one of our collaborators recently,” Snyder added. “We appreciate the continued commitment of our seven world-class partners.”
Source: Senomyx
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