Symrise invests in new product development
April 09, 2008
by FoodBusinessNews.net Staff
PARIS and CAMBRIDGE, ENGLAND – Symrise AG will contribute up to €8 million ($12.6 million) in milestone-related payments toward the development and clinical evaluation of new health and medical food products under a strategic partnership entered into on Dec. 21, 2007, with Cambridge Theranostics Ltd. Symrise AG, Paris, reported news of the partnership on April 9.
Symrise already has invested €2 million in capital in Cambridge Theranostics. The partners will share the profits on products resulting from the collaboration. Founded in 2002 as a spin-off from Cambridge University in England, Cambridge Theranostics specializes in the diagnostics and prophylaxis of cardiovascular diseases.
Cambridge Theranostics will use its proprietary screen to select natural products from Symrise’s libraries of extracts and compounds to identify compounds that may protect against cardiovascular diseases.
Cambridge Theranostics hopes to launch two products by the year 2010. The products will be available via pharmacies, said Dr. G.H. Schmidt, chief executive officer of Cambridge Theranostics.