Amyris Successfully Advances Strategic Transaction
EMERYVILLE, Calif., Dec. 27, 2022 /PRNewswire/ -- Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company accelerating the world's transition to sustainable consumption through its Lab-to-MarketTM technology platform today announced that it has completed the negotiation of key financial and business terms of the previously communicated strategic transaction for the exclusive rights to supply two of Amyris' ingredients.
The transaction is subject to antitrust review under the Hart-Scott-Rodino Act ("HSR") with a standard waiting period of thirty days. Accordingly, the transaction is expected to sign and close early in the first quarter of 2023. Both parties have agreed to confidentiality regarding further details about the transaction during this period.
The transaction, with an expected value of over $500 million, is expected to follow a structure similar to those completed by Amyris in 2021, and include an exclusive worldwide license for the distribution, marketing and selling of two Amyris ingredients. Amyris would continue to develop, scale and manufacture the ingredients. In addition, the parties are expected to enter a long-term R&D collaboration partnership for the development of new molecules.
"We are pleased with the strong continued growth across our core business. The power of our technology is evident, and we are very excited about the potential of this new partnership and the continued growth of the two ingredients," commented John Melo, President and Chief Executive Officer. "This is our third transaction of this nature and what we believe to be a strategic part of our business model for the value creation of our technology."
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-MarketTM 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.
Amyris, the Amyris logo, and Lab-to-Market, are trademarks or registered trademarks of Amyris, Inc. or its subsidiaries in the U.S. and/or other countries.
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' expectations regarding the execution and closing of the strategic transaction for two ingredients and the timing thereof; the timing and outcome of HSR review; the final terms of the strategic transaction including the potential long-term value thereof; future supply and collaboration arrangements related to the strategic transaction; the continued growth of Amyris' core business, including the two ingredients related to the strategic transaction; and strategic transactions of this nature forming part of Amyris' business model for value creation. 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 Russia's invasion of Ukraine, 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.
