Starts 2018 with Strong Continued Momentum
EMERYVILLE, Calif., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced two grants that have been awarded, valued in aggregate at approximately $25 million, to accelerate innovation and enable the company to further extend its leadership position in the industrial biotechnology sector. The first grant is in Europe and focused on furthering the company's current artificial intelligence (AI) and Informatics platform at Amyris and the second grant is from National Institutes of Health (NIH) for the development of a novel isoprenoid pharmaceutical application.
These grants are expected to start funding within this quarter and continue for five years. Amyris will provide a detailed update for each of these grants once the final contracts are complete, which is expected to occur over the next 45 days.
"We finished out an excellent year of performance for 2017 and are very pleased with our start and outlook for 2018. All of our products performed very well with Biossance exhibiting the leading growth rate with over 600% retail sales growth in 2017," said John Melo, Amyris President and CEO. "We are delivering more products, growing our revenue faster and generating more cash than any company we know of in our sector. We believe we are leading the pack and delivering better performing products for consumers and our partners. This is the right time for biotechnology and fermentation production to lead the way with high performing, sustainable products that make our planet healthier."
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 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 expected funding of the grants and the completion of the final contracts for the grants, including the timing thereof, Amyris's outlook for 2018, and anticipated revenue growth and cash generation), that involve risks and uncertainties. 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 in the "Risk Factors" section of Amyris's annual and quarterly reports filed with the SEC. 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, Biossance, and No Compromise are registered trademarks of Amyris, Inc. All other trademarks are the property of their respective owners.