LA JOLLA, CA, July 18, 2005 – Senomyx, Inc. (NASDAQ: SNMX) announced today an exclusive two-year collaborative research and license agreement with Cadbury Adams USA LLC, a Cadbury Schweppes company, for the discovery and commercialization of new flavor ingredients in the gum confectionary area. Under the terms of the new agreement, Cadbury Schweppes has agreed to pay Senomyx research funding and specified payments upon the achievement of milestones during the collaborative period. Upon commercialization, Senomyx will receive royalty payments based on sales of products using the new flavor ingredients.
“We are pleased to establish a collaboration with Cadbury Schweppes, a global leader in the confectionary market. We believe this new agreement provides further validation of our discovery and development technology and the commercial potential of our programs,” stated Kent Snyder, President and Chief Executive Officer of Senomyx.
David Macnair, Cadbury Schweppes’ Chief Science and Technology Officer, stated, “We know our consumers like to try new flavors and have new flavor experiences. Our partnership with Senomyx will help us continue to deliver those exciting new experiences, as together we’re going to create some fantastic tasting gums.”