News

Senomyx, Firmenich to extend Cool Program collaboration

16 Nov 2017

Senomyx and Firmenich have announced the expansion of their Cool Program collaborative agreement which will see Firmenich granted an exclusive license to Coolmyx CL19 and related cooling ingredients in all product categories.

Senomyx, Firmenich to extend Cool Program collaboration

Senomyx and Firmenich have announced the expansion of their Cool Program collaborative agreement.

Under the terms of the amended agreement, Firmenich will be granted an exclusive license to Coolmyx CL19 and related cooling ingredients in all product categories. This amendment also includes a license expansion for product categories covering applications in the flavour, oral care and consumer product markets.

"During the second quarter, Senomyx engaged an advisor to pursue strategic options related to certain flavour ingredient assets," said John Poyhonen, President and Chief Executive Officer of Senomyx. "We have been gratified by the significant third-party interest in this family of cooling ingredients, and we believe that Firmenich's exclusive license of Coolmyx CL19 is an outstanding opportunity for both companies. Signing this amended agreement is consistent with our goal of securing non-dilutive funding to support our corporate priorities."

Under the terms of the amended agreement, Senomyx will receive an upfront payment of $10 million for the exclusive license and pre-payment of Cool Program royalty obligations covering the period from 2018 through 2020. Under the terms of the amended agreement, Firmenich's royalty payment obligations will resume in 2021 and will continue through the length of the agreement.