Globe Newswire 8-Nov-2018 8:30 AM
Enters New Multi-Million-Dollar Development Agreement with Long Term Supply and Commercialization
EMERYVILLE, Calif., Nov. 08, 2018 (GLOBE NEWSWIRE) -- Amyris, Inc. (NASDAQ:AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today announced that it has already expanded its original collaboration with Yifan Pharmaceutical Co., Ltd. (SZ.002019) ("Yifan") from its September 2018 agreement. Yifan will add a second molecule from Amyris to its vitamin portfolio. One of the leading Chinese pharmaceutical companies, Yifan focuses on innovation, R&D, manufacturing and sales of active pharmaceutical ingredients including nutritional products, and traditional Chinese medicines.
This new multi-million-dollar collaboration between Amyris and Yifan deepens the partnership between the two companies, with immediate revenue from developing products and expected product commercialization as early as 2021, as well as plans for additional products in the future.
"We have an excellent working relationship with Yifan and are excited to be partnering with them on what we believe will have a significant health impact for people and animals," said John Melo, Amyris President & CEO. "Due to the rapid demand growth in China for cleaner, healthier products, Amyris has the leading technology to partner with companies in this market and we look forward to continuing to announce additional partnerships in the future."
"We look forward to a successful long term partnership with Amyris, working together to leverage technology and innovation to build an even stronger position within the vitamin market," commented a representative of Yifan. "Yifan is pleased to have recognized Amyris's unique capabilities early in the company's growth expansion into the Chinese market where they can be aligned with our core strengths to grow in our country and abroad."
Amyris is the integrated renewable products company that is enabling the world's leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise™ products and services across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as the anticipated scope of the relationship between Amyris and Yifan, the expected commercialization of products within the Chinese market and globally, including the anticipated timing thereof and product revenue related thereto, anticipated future collaborations in China, and expectations regarding Amyris's ability to develop products, including the cost and timing thereof, and achieve its business plan in 2018. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris's liquidity and ability to fund operating and capital expenses, potential delays or failures in development, production and commercialization of products, risks related to Amyris's reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
Note to Editors: Please see news release issued September 27, 2018, entitled "Amyris Enters into Extensive Collaboration Agreement with Leading Chinese Pharmaceutical Company, Yifan Pharmaceutical Co., Ltd."
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