Amyris delivers high-performance alternatives to petroleum, plant and animal-based products across a wide range of consumer and industry segments. Our products offer customers a way to reduce environmental impact with No Compromise® in performance or availability. We are making better chemistry biologically.
EMERYVILLE, Calif., May 20, 2019 (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 reported that it has received from its cannabinoid partner, LAVVAN, a first cash payment of $10 million for having successfully delivered on its first major collaboration milestone as announced on March 29, 2019.
“We are very pleased with the continued strong execution of our business strategy and the performance of our technology platform,” said John Melo, President and CEO of Amyris. “We are also encouraged by the progress we’ve made thus far working with our valued partner, LAVVAN, and our collaborative relationship with them on this project, which will be another cornerstone of our growth. Our brands and supply business are having a great year and our technology pipeline is delivering on our partners’ expectations.”
“This first milestone further cements our partnership with Amyris,” said Etan Bendheim, CEO of LAVVAN. “Their R&D capabilities are second to none and we are excited to be further implementing their best-in-class technology as we continue to progress towards scaling production and full commercialization.”
With this successful collaboration with LAVVAN to commercialize cannabinoid ingredients, Amyris proves once again its unparalleled ability to disrupt large markets, cost efficiently and sustainably. The company expects to bring the first fermentation-derived cannabinoid products to market next year with better purity and at significantly reduced cost compared to similar products and ingredients.
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.
LAVVAN, Inc. is a newly-formed company backed by leaders across the pharmaceutical, cannabis, and financial sectors. LAVVAN is focused on spearheading bio-based disruption of the cannabinoid sector and providing the market with superior cannabinoids at significantly reduced cost for a multitude of consumer product and therapeutic applications.
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 expected business performance, the anticipated development of Amyris’s technology pipeline, the expected commercialization of cannabinoid products, including the timing thereof, and the anticipated purity and cost of such products. 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, risks related to 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.
Director, Investor Relations and Corporate Communications
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