Evolva expands collaboration with IFF
Reinach, Switzerland, 3 May 2012 – Evolva Holding SA (SIX: EVE) today announced that it has expanded its collaboration with International Flavors & Fragrances Inc. (NYSE: IFF), one of the world’s leading creators and manufacturers of flavours and fragrances for consumer products.
Evolva has been working with IFF since early 2011 to implement a commercially viable biosynthetic route for the sustainable production of a key flavouring ingredient. This project is progressing on schedule. The collaboration is now expanded to include an additional flavouring ingredient.
Under the four year agreement, IFF will fund research and development activities at Evolva, focused primarily on pathway discovery and yield stages of the programme through the scale-up and manufacturing phases. Evolva will receive an upfront payment as well as monthly research fees. Furthermore, Evolva will receive royalty on product sales based on both margin and volume.
Neil Goldsmith, CEO of Evolva, said “Our first project with IFF is progressing well and we are excited about extending the collaboration. It is clear our biosynthesis platform is delivering radically new products and processes. These have the potential to open up markets that were previously constrained by cost, production or supply chain factors.”
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About Evolva Holding SA
Evolva’s mission is to discover and provide innovative, sustainable ingredients for health, nutrition and wellness. Evolva uses biosynthetic and evolutionary technologies to create and optimise small molecule compounds and their production routes. We are active in consumer healthcare and nutrition as well as in pharma. In both areas we have partnered projects as well as proprietary programmes. For more information see www.evolva.com.
International Flavors & Fragrances Inc. (NYSE: IFF) is a leading global creator of flavors and fragrances used in a wide variety of consumer products. Consumers experience these unique scents and tastes in fine fragrances and beauty care, detergents and household goods, as well as beverages, sweet goods and food products. The Company leverages its competitive advantages of consumer insight, research and development, creative expertise, and customer intimacy to provide customers with innovative and differentiated product offerings. A member of the S&P 500 Index, IFF has more than 5,600 employees working in 32 countries worldwide. For more information, please visit our website at www.iff.com.
|Neil Goldsmith, CEO||Jakob Dynnes Hansen, CFO||Paul Verbraeken, IR|
|+ 41 61 485 2005||+ 41 61 485 2034||+ 41 61 485 2035|
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