“Tourmaline” covers several families of ingredients with broad applications in flavours and fragrances, as well as other markets. The identity of the Tourmaline families is not yet public.
In early 2015, Evolva entered an agreement on certain Tourmaline ingredients with Takasago (Tokyo, Japan). Takasago has exclusivity for certain Tourmaline ingredients as flavours and fragrances and certain additional markets.
Under the agreement Evolva has primary responsibility for research and development, scale-up and manufacturing while Takasago has primary responsibility for regulatory approvals and commercialisation in flavours and fragrances. Evolva and Takasago will share equally the costs and returns from the partnered ingredients, with Takasago paying Evolva research fees during 2015. The collaboration could result in commercially viable products in three to five years.
Given success in bringing Tourmaline ingredients to market, Evolva’s long-term revenues are expected to derive from the supply of ingredients to Takasago and from the commercialisation of other Tourmaline ingredients by Evolva either on its own or with third parties.