Senomyx, Inc. is engaged in the discovery, development and commercialization of flavor ingredients for the packaged food, beverage and ingredient supply industries. The company licenses its flavor ingredients to its collaborators on an exclusive or co-exclusive basis. It has collaborative agreements with packaged food, beverage and ingredient companies, including Ajinomoto Co., Inc. (Ajinomoto); Firmenich SA (Firmenich); Nestlé SA (Nestlé); and PepsiCo, Inc. (PepsiCo). Strategy The company’s goal is to use its flavor programs to become the leader in the discovery, development and commercialization of new and improved proprietary flavor ingredients that are commercialized either through collaborations with companies or through direct sales by the company. Key elements of its strategy include the following: maintaining and expanding the company’s technology position; developing flavor ingredients that are eligible for Flavor and Extract Manufacturers Association (FEMA), and Generally Recognized as Safe (GRAS) Determination; collaborating with leading packaged food, beverage and ingredient companies; and pursuing market opportunities through direct sales. Patents and Proprietary Rights As of December 31, 2013, the company is the owner or the exclusive licensee of 206 issued United States patents, 48 pending United States patent applications, 200 issued foreign patents and 241 pending foreign applications covering various aspects of its proprietary technology. The company’s issued patents have terms that expire in 2015 through 2031. The earliest patent expiration for its approved flavor ingredients is in 2024 for certain savory flavor ingredients. Discovery and Development Programs The company is pursuing the discovery and development of flavor ingredients through five programs focused on sweet, savory, bitter, cooling and salt taste areas. Sweet Taste Program: The company’s Sweet Taste Program has two main components. It intends to develop natural and artificial sweet taste modifiers. Sweet Modifiers: The goal of the Sweet Modifier component of its Sweet Taste Program is to restore the desired taste profile of products in which natural and artificial sweeteners have been reduced. Natural High Intensity Sweeteners: The goal of the Natural High Intensity Sweetener component of its Sweet Taste Program is to discover and develop novel no- or low-calorie natural high intensity sweeteners. Savory Flavor Program: The goals of its Savory Flavor Program are to mimic the taste of naturally occurring glutamate to enable the reduction or removal of added MSG and to provide new savory tastes to foods by combining Senomyx’s savory flavor ingredients with other ingredients to create unique new flavors. Bitter Blocker Program: The goal of this program is to reduce or block bitter taste to improve the overall taste characteristics of foods, beverages, and ingredients. Two of its bitter blockers, S6821 and S7958, have received GRAS regulatory status. Cooling Taste Program: The goal of the Cooling Taste Program is to identify novel cooling agents that have advantages over currently available ingredients. Salt Taste Program: The goal of the Salt Taste Program is to identify flavor ingredients that allow a significant reduction of sodium in foods and beverages yet maintain the salty taste desirable to consumers. This program is an important research focus for its longer-term pipeline. Competition The company’s competitors include flavor companies, such as Firmenich, Givaudan SA, International Flavors & Fragrances Inc., Symrise and Takasago. Competitors developing or marketing high intensity sweeteners include Ajinomoto, BRAIN AG (Biotechnology Research and Information Network AG), Cargill, GLG Life Tech, Natur Research Ingredients, Nutrasweet, Nutrinova GMBH, PureCircle Limited, Symrise and Tate & Lyle. Competitors developing or marketing menthol or cooling agents include International Flavors and Fragrances, Jindal Drugs, Mentha & Allied, Sharp Menthol, Symrise, Takasago and Renessenz. Significant Events In April 2014, Senomyx revealed the execution of a new collaborative agreement related to its Salt Taste Programme with PepsiCo. PepsiCo will support Senomyx's continued work to identify flavours with modifying properties intended to restore the desired salty taste in products with reduced salt. As part of the new agreement, PepsiCo would provide research funding for the Salt Taste Programme for 2014, with options to extend the research funding period. In May 2014, Senomyx, Inc. announced that PepsiCo, Inc. has exercised its option to extend the companies' collaborative agreement related to Senomyx's sweet-taste technology for an additional two years, through August 2016. History Senomyx, Inc. was founded in 1998.
(SNMX:Consolidated Issue listed on NASDAQ Global Market)
4767 Nexus Centre Drive
San Diego, CA 92121
|International Flavors & Fragrances Inc||$94.13 USD||-1.75|
|PureCircle Ltd||602.50 GBp||0.00|
|Symrise AG||€41.80 EUR||-0.246|
|Takasago International Corp||¥513.00 JPY||-8.00|
|Tate & Lyle PLC||585.00 GBp||-6.50|
|View Industry Companies|
|Price/Cash Flow||NM||Not Meaningful|
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