EMERYVILLE, Calif. and BOSTON, Sept. 15, 2016 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced that it has completed a subsequent collaboration agreement with Ginkgo Bioworks, which is expected to be approved by the boards of both companies. The agreement finalizes details of how the two companies will jointly develop cultured products more efficiently and cost effectively, accelerating time to market. This breakthrough biotech collaboration was initially announced on June 29, 2016 and, upon board approval, both companies plan to move quickly to establish a leading position within the market for sustainable, bio-based products.
Per the agreement, Ginkgo and Amyris will share in the value of new cultured ingredients brought to market across several industries including food and nutrition, flavor and fragrance, and cosmetics and personal care. These ingredients, produced via fermentation with engineered microorganisms, leverage the end-to-end biotechnology stack that Ginkgo and Amyris have developed, from high throughput automated strain development, analytics, and optimization, to process development, full-scale manufacturing, and product recovery operations.
"Working together with Ginkgo leverages our combined strengths to make renewable products mainstream. The combination of our capabilities creates an unparalleled offer for partners who want to create competitive advantage in their supply chain. We're very pleased with our continued execution this year and remain on track for expected record revenue in the third quarter of 2016, and execution on the non-core asset sales that are expected to deliver strong, positive cash flow by year end," said John Melo, President and CEO of Amyris.
Continued Melo, "We are pleased with the early results of this collaboration. With what we believe is the world's largest combined R&D groups focused on engineering organisms and producing cultured ingredients at robust industrial manufacturing scale, we are able to offer our customers the best solution in the market."
"We're delighted with the collaborative effort our teams have already shown in reviewing key areas where both companies can excel together," said Jason Kelly, CEO of Ginkgo Bioworks. "This should lead to more efficiency in bringing new products to market for our partners more quickly by utilizing the top-notch engineering talent of both companies along with Ginkgo's foundries and Amyris's manufacturing expertise."
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, specialty ingredients and consumer products. The company is delivering its No Compromise® products in focused markets, including specialty and performance chemicals, fragrance ingredients, and cosmetic emollients. More information about the company is available at www.amyris.com.
About Ginkgo Bioworks
Headquartered in Boston, Ginkgo Bioworks uses the most advanced technology on the planet— biology — to grow products instead of manufacture them. The company's technology platform is bringing biotechnology into consumer goods markets-- enabling fragrance, cosmetic, nutrition, and food companies to make better products. For more information, visit www.ginkgobioworks.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 expectation that the collaboration agreement will be approved by the board of directors of both companies, anticipated record revenue on a quarterly basis for third-quarter 2016, the expected timing and execution of one or more non-core asset sales, the expected achievement of positive cash flow by year end, the expected ability of the companies to jointly develop products more efficiently and cost effectively under the collaboration, accelerating time to market, the anticipated competitive positioning of the companies as a result of the collaboration, as well as the ability of the collaboration to enable partners to bring products to market more quickly) that involve risks and uncertainties. These statements are based on management's current expectations and actual results and future events may differ materially from such expectations due to risks and uncertainties, including, among other things, Amyris's liquidity and ability to fund operating and capital expenses, timing and execution risks associated with manufacturing, potential delays or failures in development, production and commercialization of products, Amyris's reliance on third parties to achieve its goals, and other risks detailed in the "Risk Factors" section of Amyris's quarterly report on Form 10-Q filed on August 9, 2016. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
The reference above in regard to expected record revenue in the third quarter of 2016 excludes historical quarters when the company had engaged in ethanol sales and trading.
Amyris and the Amyris logo are registered trademarks of Amyris, Inc. All other trademarks are the property of their respective owners.
Note to Editors: Please see news release issued June 29, 2016, entitled, "Ginkgo Bioworks and Amyris Partner to Accelerate Commercialization of Bio-Based Products"
Contacts: Grace Emery Ginkgobioworks@bateman-group.com +1 (347) 230-6640 Amyris: Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 email@example.com firstname.lastname@example.org