Evolva enters a new agreement with International Flavors & Fragrances (IFF)
Reinach, 25 March 2020 – Evolva, the Swiss biotech company, has entered a new collaboration agreement with International Flavors and Fragrancies (IFF), a leading global creator of taste, scent and nutrition for consumer products, to further develop and expand commercialization of vanillin.
The two companies started to collaborate in 2011. Under the terms of the new agreement, IFF will expand commercialization of the product and Evolva will be responsible to further develop vanillin. Evolva will receive payments for the product manufactured and sold, contributing to reach cash break-even by 2023.
“We regard the agreement with Evolva as an example of our continued commitment to support the increasing consumer attention to health and the environment” said Matthias Haeni, Divisional CEO, Taste, for IFF.
Evolva has significantly invested in the capability to develop and optimize its ingredients and shorten time to commercial-scale production.
“We are pleased to continue to provide technology services to IFF. Partners can count on our high-quality, tailored services, and extensive experience in this area” said Oliver Walker, Evolva’s CEO.