EMERYVILLE, Calif., Sept. 27, 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 entered into a multi-year, multi-million-dollar agreement with a subsidiary of Yifan Pharmaceutical Co., Ltd. (SZ.002019)(“Yifan”). Yifan is one of the leading Chinese pharmaceutical companies focusing on innovation, R&D, and manufacturing with a strong market position and focus on active pharmaceutical ingredients (APIs) including nutritional products, biologics, high-end small molecule drugs, and special traditional Chinese medicine.
This collaboration is anticipated to be the start of a long-term relationship with Yifan starting with the first target in nutrition for a key molecule to be developed, scaled and manufactured by Amyris. The combination of Amyris’s technology position and Yifan’s market position is expected to result in the product being commercialized within the Chinese market as well as the rest of the global market by 2021 with first product revenue achieved the same year. Assuming successful commercialization of the first target, the companies expect to bring to market 3-5 additional products in the coming years.
“Upon successful commercialization, Amyris expects to develop this line of business into $100 million or more of expected annual revenue,” said John Melo, Amyris President & CEO. “We expect this to be the first of several multi-million-dollar collaborations in China that build on the leadership of our technology platform for the Chinese market and our ability to develop sustainable products faster, better and at lower cost than anyone else in the world. We are continuing to execute on our plan for the year and we are excited by the potential of this agreement and share a common vision with Yifan to transform the traditional chemistry in China to clean chemistry. We think this transition is a multi-billion-dollar opportunity in the Chinese market and Amyris is the best positioned to provide a clean and healthier solution for the people of China.”
“Innovation, integration and globalization are central to Yifan’s long-term development plan, and we have been striving to strengthen our leading position within the vitamin market through breakthrough technology and innovation,” commented a representative of Yifan. “We believe the collaboration between Yifan and Amyris is a start of integrating the strengths and complementing the resources of the two companies. We expect this collaboration to benefit both parties as well as help move the global vitamin market to a more benign and healthier direction.”
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.
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