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SENOMYX INC. ANNOUNCES RESEARCH AND DEVELOPMENT AGREEMENT WITH THE COCA-COLA COMPANY
La Jolla, CA (May 07, 2002) – Senomyx, Inc. (www.senomyx.com) today announced an agreement with The Coca-Cola Company to research new flavors of soft drinks and other nonalcoholic beverages. Specific terms of the agreement were not disclosed.
Under the agreement, Coca-Cola will pay Senomyx to conduct research and development in the field of flavor discovery. Senomyx must reach specific research goals and would receive royalties from the sale of any product that might use flavors it develops.
"Joining forces with The Coca-Cola Company is an enormous opportunity for Senomyx," said Paul Grayson, President and CEO of Senomyx, Inc. "Senomyx has unparalleled technology and knowledge in the field of flavor discovery, and we are eager to join with a global company like Coca-Cola to apply our expertise."
"We are very pleased to begin this partnership with The Coca-Cola Company," added Tracy Kohlenberg, Esq. vice president of business development and corporate counsel. "This collaboration, our fourth with a leading consumer products company, allows us to expedite the global development of our flavor enhancers."
"We are always looking for new ways to deliver great tasting beverages to our consumers and we believe that our partnership with Senomyx has the potential to produce innovations in beverage taste," said Jay Gould, vice president of product portfolio development and innovation, The Coca-Cola Company.
About Senomyx, Inc.
Senomyx seeks to be the leader in discovering new and improved proprietary flavor and fragrance molecules for use in a wide range of consumer products. Senomyx's integrated technology platform combines an enhanced understanding of the biology of taste and smell with many of the same technologies and advancements that pharmaceutical companies have recently begun using to more efficiently discover new medicines. Senomyx is incorporating receptor biology, combinatorial chemistry, high-throughput screening and bioinformatics into an integrated technology platform designed to enable the rapid, efficient discovery of new and improved proprietary molecules.
About The Coca-Cola Company
The Coca-Cola Company is the world's largest beverage company and is the leading producer and marketer of soft drinks. Along with Coca-Cola, recognized as the world's best-known brand, The Coca-Cola Company markets four of the world's largest top five soft drink brands, including diet Coke, Fanta and Sprite. Through the world's largest distribution system, consumers in nearly 200 countries enjoy The Coca-Cola Company's products at a rate of more than 1 billion servings each day. For more information on The Coca-Cola Company, please visit the company's website at www.coca-cola.com.
Forward-Looking Statements
This release contains "forward-looking statements" which reflect the companies' current expectations about future performance. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the companies due to a number of factors, including without limitation technological uncertainties facing the companies and competitive factors. The Coca-Cola Company and Senomyx, Inc. disclaim any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
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