Amyris Inc (NASDAQ:AMRS) has signed a research agreement with a large pharmaceutical company, to test target antibiotic therapies of the later, with the help of its µPharm platform. The company noted that it would develop a customized library of natural and natural-like compounds, using its technology, which would be used for testing. It should be noted here that the agreement also carries an option for commercial licensing, in the future.
John Melo, the CEO of AMRS, expressed his pleasure at the agreement and stated that things were going as planned, given that this is the second large collaboration for the technology, in the 2H2016. He claimed that the company’s business was gaining momentum and also pointed out that AMRS now has three agreements in the biopharma sector alone. The CEO also claimed that each of the three associated companies was a leader in its respective field.
The senior VP of developments and collaborations at Amyris, Cynthia Bryant, stated that this agreement was an indication of the robust growth being experienced by them, in this space. She was of the view that the technology can be used for a wide array of applications and even in biopharma it can lead to the discovery of new drugs, which have previously not been available. The aforementioned tests are aimed at determining hits against an identified target.
Earlier in the week, the company signed a definitive agreement, with a leading nutraceuticals company, aimed at developing a strategic partnership and financing. The management expects to generate revenue of $40-$50 million, through this market, once it has been developed and scaled. Mr. Melo revealed that this was the second agreement with this partner, during the current year and significant traction has been experienced in the first market as well. He also stated that the second nutraceutical product could possibly reach full scale production, by 2019.
AmyrisInc (NASDAQ:AMRS) did not record a change in its share value, during the October 28 trading session, despite having a trade volume of 6.76 million, to close at $1.05 per share.
