Amyris Closes Strategic Transaction With Givaudan
Leveraging Amyris' industry-leading biotechnology platform in Beauty for the development and supply of clean sustainable ingredients
EMERYVILLE, Calif., April 5, 2023 /PRNewswire/ -- Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company accelerating the world's transition to sustainable consumption through its Lab-to-Market™ technology platform and clean beauty consumer brands, announced that it has completed the previously announced strategic transaction with Givaudan SA for the worldwide exclusive licensing of certain cosmetic ingredients, including Neossance® Squalane, the highest performant emollient, Neossance® Hemisqualane, the plant-based silicone alternative, and CleanScreen™, the sustainable sun protector.
Givaudan is a global leader in Fragrance & Beauty. Amyris and Givaudan have a strong partnership to leverage the value of Amyris' technology platform for designing, scaling and manufacturing the best-performing bio-fermented ingredients. This marketing partnership builds on a successful history that includes the development and commercialization of the world's leading supply of Bisabolol from Amyris' precision fermentation platform.
"We are very pleased with the expansion of our long-term partnership with Givaudan," said John Melo, President and Chief Executive Officer. "This transaction marks the continuation of the successful execution of our strategy to develop, scale and make the world's best-performing molecules from clean, sustainable chemistry and to partner with the world's leading companies. We own the technology, and we formulate and deliver the best-performing consumer products through our portfolio of best-in-category consumer brands, which drives market demand and adoption of our ingredients. Our ingredients partners use their market reach to ensure a steady, reliable supply to leading beauty and personal care companies."
The terms of the deal include a combination of a $200 million upfront cash consideration and up to a $150 million performance based earnout, along with a long-term manufacturing agreement that values the total transaction at an estimated $500 million.
About Amyris
Amyris (Nasdaq: AMRS) is a leading synthetic biotechnology company, transitioning the Clean Health & Beauty and Flavors & Fragrances markets to sustainable ingredients through fermentation and the company's proprietary Lab-to-Market™ technology platform. This Amyris platform leverages state- of-the-art machine learning, robotics and artificial intelligence, enabling the company to rapidly bring new innovation to market at commercial scale. Amyris ingredients are included in over 20,000 products from the world's top brands, reaching more than 300 million consumers. Amyris also owns and operates a family of consumer brands that is constantly evolving to meet the growing demand for sustainable, effective and accessible products. For more information, please visit http://www.amyris.com.
About Givaudan
Givaudan is a global leader in Fragrance & Beauty and Taste & Wellbeing. We celebrate the beauty of human experience by creating for happier, healthier lives with love for nature. Together with our customers we deliver food experiences, craft inspired fragrances and develop beauty and wellbeing solutions that make people look and feel good. In 2022, Givaudan employed almost 16,700 people worldwide and achieved CHF 7.1 billion in sales with a free cash flow of 6.7% of sales. With a heritage that stretches back over 250 years, we are committed to driving long-term, purpose-led growth by improving people's health and happiness and increasing our positive impact on nature.
This is Givaudan. Human by nature. Discover more at www.givaudan.com.
Forward-Looking Statements
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 Amyris' strategy and expectations regarding the benefits and total value of the strategic transaction with Givaudan. 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' liquidity and ability to fund operating and capital expenses, risks related to its financing activities, risks related to potential delays or failures in completing and integrating planned acquisitions, risks related to potential delays or failures in development, regulatory approval, launch, production and commercialization of products, risks related to global inflation and policy measures undertaken to address inflation, the COVID-19 pandemic and any other geopolitical events, including the Ukraine conflict, resulting in global economic, financial and supply chain disruptions that may negatively impact Amyris' business operations and financial results or cause market volatility, risks related to Amyris' reliance on third parties particularly in the supply chain, 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.
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SOURCE Amyris, Inc.
