SAN DIEGO — PepsiCo, Inc. has extended its research funding for Senomyx, Inc.’s natural sweet taste program for three additional years, through September 2019, as the two companies have amended and restated their collaboration agreement. Senomyx will receive $18 million in research and development payments over the three-year period.
Senomyx granted PepsiCo non-exclusive rights to natural sweeteners and natural flavor ingredients discovered, developed and selected under the collaboration for use in all non-alcoholic beverage categories.
|John Poyhonen, president and c.e.o. of Senomyx|
“We are looking forward to continuing our collaboration with PepsiCo given our common objective of developing products that meet the growing demand for lower-calorie offerings,” said John Poyhonen, president and chief executive officer of San Diego-based Senomyx. “PepsiCo is an industry leader, committed to reducing added sugar in their products and creating great tasting options for consumers.”
Senomyx will be eligible for milestone payments based on the achievement of predetermined goals and for royalty payments upon the sale of PepsiCo products containing natural sweeteners or ingredients selected under the collaboration. PepsiCo, Purchase, N.Y., retains the option to further extend the collaboration for two more years.Senomyx and PepsiCo began a four-year collaboration agreement in 2010. Then in 2014 they extended it for two more years to 2016. Senomyx discovers flavor ingredients and natural high-intensity sweeteners. The company sells its Complimyx brand flavor ingredients, including Sweetmyx, Savorymyx and Bittermyx, to flavor companies for use in a variety of foods and beverages.