Amyris has executed a Memorandum of Understanding for a collaboration with a partner in food ingredients and nutraceuticals.
Upon required approval and execution of definitive agreements with this new partner, Amyris expects to receive:
– cash representing a short-term collaboration investment of US$10 million,
– an equity investment of up to US$20 million at US$1.40 per share,
– US$100 million in annual revenue starting in 2017 connected to the production and cost improvement of fermentation molecules, and
– participation in the partner’s industrial fermentation facilities in Asia.
This relationship follows a series of significant partnerships the company has announced in recent months, including a partnership with another company in the nutraceuticals space that was announced on September 30, 2016.
Both parties have agreed to keep the partner’s name confidential for now.
Amyris applies its bioscience solutions to convert plant sugars into hydrocarbon molecules, specialty ingredients and consumer products.
