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Senomyx Extends Flavor Development Deal With Coke |
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Tuesday, 22 April 2008 |
SAN DIEGO: Senomyx Inc., which develops ingredients and additives for the food and beverage industry, says it has signed a two-year contract extension with Coca-Cola Co.
The agreement, which calls for Senomyx to develop and commercialize ingredients for the world's largest beverage maker's nonalcoholic offerings, now extends through April 22, 2010.
The beverage maker has agreed to pay $4 million in research funding during the two-year extension and the company is still eligible for research and development milestone payments.
Atlanta-based Coca-Cola has also agreed to make royalty payments when ingredients developed by Senomyx are commercialized.
Copyright 2008 Associated Press. All rights reserved.
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