Amyris Closes $50 Million Strategic Transaction
Amyris, Inc. (Nasdaq: AMRS), a leader in synthetic biotechnology, has completed a strategic transaction with DSM Nutritional Products Ltd valued at $50 million.
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Rhea-AI Summary
Amyris, Inc. (Nasdaq: AMRS), a leader in synthetic biotechnology, has completed a strategic transaction with DSM Nutritional Products Ltd valued at $50 million. This deal involves licensing rights for Farnesene to Givaudan for a specialty ingredient. Of the total amount, $30 million is due by December 30, 2020, with further payments scheduled for the first quarter of 2021 and potential milestone payments thereafter. This is the first of three anticipated transactions as per management's recent investor event on December 15, 2020.
Positive
- Transaction valued at $50 million enhances revenue.
- First of three deals, indicating a strategic growth plan.
Negative
- None.
Details
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EMERYVILLE, Calif., Dec. 21, 2020 /PRNewswire/ -- Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands, and a top supplier of sustainable and natural ingredients, announced today the closing of a strategic transaction with DSM Nutritional Products Ltd, the world's leading supplier of vitamins, carotenoids and other fine chemicals to the feed, food, pharmaceutical and personal care industries.
This is the first of three anticipated transactions Management described during its recent virtual investor mini-series event, held on December 15, 2020.
Under the terms of the agreement Amyris is licensing to DSM rights to assume the supply of Farnesene to Givaudan for the production and sale of a single specialty ingredient. The transaction is valued at
Amyris was advised by BNP Paribas on the transaction.
About Amyris
Amyris (Nasdaq: AMRS) is a science and technology leader in the research, development and production of sustainable ingredients for the Clean Health & Beauty and Flavors & Fragrances markets. Amyris uses an impressive array of exclusive technologies, including state-of-the-art machine learning, robotics and artificial intelligence. Our ingredients are included in over 3,000 products from the world's top brands, reaching more than 200 million consumers. Amyris is proud to own three consumer brands - all built around its No Compromise® promise of clean ingredients: Biossance™ clean beauty skincare, Pipette™ clean baby skincare and Purecane™, a zero-calorie sweetener naturally derived from sugarcane. For more information, please visit www.amyris.com.
Forward-Looking Statements
This release contains forward-looking statements, including, among other things, statements regarding expected future payments to Amyris under the agreement with DSM including potential milestone payments and the timing thereof. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris's reliance on third parties with respect to collaboration arrangements (including with respect to supply) and related contractual obligations and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo, No Compromise, Biossance, Pipette, and Purecane are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
View original content:http://www.prnewswire.com/news-releases/amyris-closes-50-million-strategic-transaction-301196532.html
SOURCE Amyris, Inc.
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