Senomyx Inc. (Nasdaq: SNMX), which uses proprietary taste science technologies to discover, develop and commercialize novel flavor ingredients for the food, beverage and flavor industries, has entered into a new collaborative agreement with PepsiCo Inc. (NYSE: PEP) 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 (sodium chloride).
Under the new agreement, PepsiCo will provide research funding for the Salt Taste Program for 2014 and has options to extend the research funding period. PepsiCo will have non-exclusive rights to salt flavor modifiers discovered during the research funding period. In addition, Senomyx will have the right to supply these flavor ingredients directly to PepsiCo. Financial terms of the agreement have not been disclosed.
"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," said John Poyhonen, president and CEO of Senomyx.
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