PepsiCo extends agreement to use Senomyx ingredients in non-alcoholic beverages
Global drinks major PepsiCo has extended its collaborative agreement with flavor ingredients producer Senomyx, for the next two years.
As per the agreed terms, the company will retain its exclusive worldwide rights to use Senomyx sweet flavor ingredients that have been developed for use in non-alcoholic beverages.
Senomyx will continue to receive research funding payments through August 2016 and will also be eligible for milestone payments based upon the achievement of predetermined goals, as well as royalty payments.
Commenting on the agreement, Senomyx president and CEO John Poyhonen said, "Senomyx's Sweet Taste Program has realized significant accomplishments during the past four years. We look forward to continuing to work with our valued partner PepsiCo on this successful program."
In April this year, PepsiCo had entered into a research agreement with Senomyx to identify new salt flavor modifiers.
Through this collaboration, the company has agreed to provide research funding for the Salt Taste Program for 2014, with options to extend the research funding period.
PepsiCo will have non-exclusive rights to salt flavor modifiers that are discovered during the research funding period.
Image: PepsiCo will retain its exclusive worldwide rights to use Senomyx sweet flavor ingredients. Photo: Courtesy of PepsiCo