The bio-based sustainable blockbuster ingredients Squalane,
Hemisqualane and Cleanscreen as well as development of future
cosmetic ingredients from Amyris will accelerate both companies'
leadership in biofermentation-based chemistry for the beauty
industry.
EMERYVILLE, Calif., Feb. 22,
2023 /PRNewswire/ -- As part of its 2025
strategy to provide new and superior product offerings to expand
its Active Beauty business, Givaudan, the global leader in
fragrance & beauty innovation, today announces that it has
reached an agreement to acquire certain cosmetic ingredients from
Amyris, Inc. (Nasdaq: AMRS), including Neossance®
Squalane, the highest performant emollient, Neossance®
Hemisqualane, the plant-based silicone alternative and CleanScreen,
the sustainable sun protector.
Givaudan and Amyris have signed a long-term partnership
agreement under which Amyris will continue to manufacture
ingredients for Givaudan to use in cosmetics, as well as provide
access to their innovation capabilities. Givaudan will become the
commercialization partner for future sustainable beauty
ingredients.
Amyris is a leading biotechnology company accelerating the
world's transition to sustainable consumption through its
Lab-to-Market™ technology platform in Beauty,
Health & Wellness and Flavors & Fragrances markets. Amyris
and Givaudan have a significant partnership to leverage the value
of Amyris' technology platform for designing, scaling and
manufacturing the best performing biofermented ingredients.
Maurizio Volpi, President
Fragrance & Beauty, commented: "I am delighted about this
transaction, which fits perfectly with our 2025 strategic ambitions
to develop our Active Beauty business while leveraging our
biotechnology leadership in partnership with Amyris' expertise. In
the future, we will continue to push the boundaries of biotech,
creating new sustainable innovations for a better Beauty
future."
"We share the same values with Givaudan, offering sustainable
consumer products to improve peoples' lives while protecting the
environment," said John Melo, Amyris
President and Chief Executive Officer. "Today we are reaching a
major new step in our commercial partnership that we are very proud
of. Our technology and biomanufacturing capabilities deliver truly
differentiated sustainable ingredients that are what consumers are
demanding and enable our partners to lead in their markets. This
transaction is a major step forward in funding our growth and
enabling us to reach operating profitability."
Markus Rassmann, Head of Active
Beauty, said: "Today, we have the widest offering of biotech
cosmetic ingredients on the market. We are proud to expand our
Active Beauty portfolio with these key active cosmetic ingredients
Neossance® Squalane, Neossance® Hemisqualane
and Cleanscreen coming from our long-standing partner Amyris. They
represent unique added value in answering our customers'
expectations for innovative, sustainable and efficient beauty
solutions."
The terms of the deal include a combination of an upfront cash
consideration and a performance based earnout, along with a
long-term manufacturing agreement. Further details have not been
disclosed and Givaudan plans to fund the transaction from existing
resources. Amyris' active cosmetic ingredients business would have
represented approximately USD 30
million of incremental sales to Givaudan's results in 2022
on a proforma basis. Closing of the transaction is subject to
customary review and approvals from the relevant regulatory
authorities.
About Amyris
Amyris (Nasdaq: AMRS) is a leading
synthetic biotechnology company, transitioning the Clean Health
& Beauty and Flavors & Fragrances markets to sustainable
ingredients through fermentation and the company's proprietary
Lab-to-Market™ technology platform. This Amyris
platform leverages state-of-the-art machine learning, robotics and
artificial intelligence, enabling the company to rapidly bring new
innovation to market at commercial scale. Amyris ingredients are
included in over 20,000 products from the world's top brands,
reaching more than 300 million consumers. Amyris also owns and
operates a family of consumer brands that is constantly evolving to
meet the growing demand for sustainable, effective and accessible
products. For more information, please visit
http://www.amyris.com.
About Givaudan
Givaudan is a global leader in
Fragrance & Beauty and Taste & Wellbeing. We celebrate the
beauty of human experience by creating for happier, healthier lives
with love for nature. Together with our customers we deliver food
experiences, craft inspired fragrances and develop beauty and
wellbeing solutions that make people look and feel good. In 2022,
Givaudan employed almost 16,700 people worldwide and achieved
CHF 7.1 billion in sales with a free
cash flow of 6.7% of sales. With a heritage that stretches back
over 250 years, we are committed to driving long-term, purpose-led
growth by improving people's health and happiness and increasing
our positive impact on nature. This is Givaudan. Human by nature.
Discover more at www.givaudan.com.
About Givaudan Fragrance & Beauty
Givaudan
Fragrance & Beauty craft inspired fragrances to perfume lives
and memories, and develop innovative beauty and wellbeing solutions
that make people look and feel good all over the world. Nature is
both our responsibility and our most precious muse. We are just as
committed to sustainability as we are to creating innovative
products that satisfy consumer needs and anticipate their desires.
With a collaborative approach that favours co-creation, we have
built a diverse portfolio across personal care, fabric care,
hygiene, home care, fine fragrances, and beauty, reflecting our
multidisciplinary expertise. This is Givaudan. Human by nature.
Learn more at www.givaudan.com/fragrance-beauty.
Forward-Looking Statements
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 Amyris'
expectations regarding the closing of the transaction with Givaudan
and the financial benefits and timing thereof. 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' liquidity and ability to fund
operating and capital expenses, risks related to its financing
activities, risks related to potential delays or failures in
completing and integrating planned acquisitions, risks related to
potential delays or failures in development, regulatory approval,
launch, production and commercialization of products, risks related
to global inflation and policy measures undertaken to address
inflation, the COVID-19 pandemic and any other geopolitical events,
including Russia's invasion of Ukraine, resulting in
global economic, financial and supply chain disruptions that may
negatively impact Amyris' business operations and financial results
or cause market volatility, risks related to Amyris' reliance on
third parties particularly in the supply chain, 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.
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SOURCE Amyris, Inc.