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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."
