2 March 2016 – Evolva (SIX: EVE) today announces reaching the first technical milestones under the multi-year R&D alliance with Takasago. This achievement, taking place three months ahead of schedule, prompts a total milestone payment of CHF 1 million to Evolva.
The aim of the collaboration is to co-develop novel fermentation routes to produce several undisclosed ingredients (codename Tourmaline) with broad applications in the flavour and fragrance industry. Evolva and Takasago are applying Evolva’s fermentation technology platform to develop and optimise yeast strains for the sustainable and cost-effective production of the ingredients. The two parties will share equally the costs and the economic value derived from the manufacturing and commercialisation of final products.
Masayuki Mita, Senior Vice President of the Fragrance and Aroma Ingredients Division at Takasago commented, “Our project with Evolva is developing better than expected. Evolva’s team clearly proves to be very competent and focused. I am looking forward to further progress towards developing a competitive and sustainable production route for some of our key ingredients.”
Evolva CEO Neil Goldsmith said. “It is great working with the Takasago people who share our enthusiasm for flavours and fragrances as well our passion for fermentation and sustainability.”
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