Ajinomoto project moves into the next phase triggering a milestone payment to Evolva
Evolva (SIX: EVE) today announces that Ajinomoto Co. Inc., Japan, has confirmed that Evolva has completed the first R&D phase in their collaboration and that the collaboration is moving into its next phase. The ultimate objective of the collaboration is the joint development of novel fermentation production routes for a natural functional ingredient for application in Personal Care. Evolva has developed an innovative process that allows Ajinomoto to manufacture the target ingredient. In recognition of the progress and several new findings, Ajinomoto will make a milestone payment to Evolva.
Neil Goldsmith, CEO of Evolva, said, “This is another example of excellent cooperation between the Evolva team and our partner, in this case Ajinomoto. Our fermentation platform is continuing to deliver strong progress in key projects.
”“We have been working with Evolva’s team of scientists for eighteen months now and we are impressed with their progress to date. It confirms that our collaboration with Evolva will provide new impulses in our search for innovative products and improved production processes.” said Takeshi Kimura, Member of the Board & Corporate Vice President at Ajinomoto.
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About Ajinomoto Co. Inc.
+ 41 61 485 2005
|Jakob Dynnes Hansen
+ 41 61 485 2034
+ 41 61 485 2035
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