Senomyx Announces New Collaborative Agreement With PepsiCo - Quick Facts

(RTTNews) - Senomyx, Inc. (SNMX), which uses proprietary taste science technologies to develop flavor ingredients for the food, beverage and flavor industries, Wednesday said it has entered into a new collaborative agreement with PepsiCo, Inc. related to Senomyx's Salt Taste Program.

The new collaboration will support Senomyx's continued work to identify flavors with modifying properties intended to restore the desired salty taste in products with reduced salt.

PepsiCo will provide research funding for the Salt Taste Program for 2014 and has options to extend the funding period. PepsiCo will have non-exclusive rights to salt flavor modifiers discovered during the research.

Senomyx will also have the right to supply these flavor ingredients directly to PepsiCo. Financial terms of the agreement have not been disclosed.

John Poyhonen, President and CEO, said, "We are pleased to establish this new type of research agreement, which provides research funding to Senomyx while retaining our ability to add potential new flavor offerings to our direct sales portfolio."