SAN DIEGO, March 8, 2007 /PRNewswire-FirstCall/ -- Senomyx, Inc.
(Nasdaq: SNMX), a leading company focused on using proprietary technologies
to discover and develop novel flavor ingredients for the packaged food and
beverage industry, announced today that the Chinese Ministry of Health has
granted official regulatory approval in China for the Company's savory
flavor ingredients via the publication of the 2007 List of Flavors Intended
for Use in Food (GB 2760). These savory enhancers, discovered and developed
by Senomyx, are intended to allow the reduction or elimination of
monosodium glutamate (MSG) and to augment the flavor of naturally occurring
glutamate found in many food and beverage products.
"Regulatory approval in China opens the world's largest MSG market to
products containing Senomyx's proprietary savory ingredients," said Kent
Snyder, President and Chief Executive Officer of the Company. "Senomyx is
primarily responsible for obtaining international regulatory approvals for
the flavor ingredients that will be marketed by our collaborators.
Achieving this status in China is important for our partners' future
commercialization plans and broadens the Company's potential royalty
revenue base."
In the U.S., Senomyx's savory flavor ingredients have been determined
to be Generally Recognized As Safe (GRAS) under the provisions of the
Federal Food, Drug and Cosmetic Act, administered by the United States Food
and Drug Administration (FDA). The GRAS determination enables incorporation
of the savory enhancers into a variety of food products including sauces,
frozen foods, processed cheese and snack foods. This status is recognized
in, and allows for commercialization in, a significant number of countries
in addition to the U.S., and facilitates approval in much of the rest of
the world.
About Senomyx, Inc. (www.senomyx.com)
Senomyx is a leading company focused on using proprietary taste
receptor-based assays, screening technologies and optimization chemistry to
discover and develop novel flavors, flavor enhancers and taste modulators
for the packaged food and beverage industry. Senomyx's current programs
focus on the development of flavor ingredients in the savory, sweet, salt
and bitter areas. Senomyx has entered into product discovery and
development collaborations with six of the world's leading packaged food
and beverage companies: Ajinomoto Co., Inc., Cadbury Schweppes, Campbell
Soup Company, The Coca-Cola Company, Kraft Foods Global, Inc. and Nestle
SA.
Forward-Looking Statements
Statements contained in this press release regarding matters that are
not historical facts are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Because such
statements are subject to risks and uncertainties, actual results may
differ materially from those expressed or implied by such forward-looking
statements. Such statements include, but are not limited to, statements
regarding: the capabilities of Senomyx's savory flavor ingredients; the
size of any market for Senomyx's products; Senomyx's ability, or Senomyx's
collaborators' ability, to commercialize products incorporating Senomyx's
flavor ingredients in packaged foods and beverages; and Senomyx's potential
royalty revenues. Risks that contribute to the uncertain nature of the
forward-looking statements include: Senomyx is dependent on its product
discovery and development collaborators for all of Senomyx's revenue;
Senomyx is dependent on its current and any future product discovery and
development collaborators to develop and commercialize any flavor
ingredients Senomyx may discover; Senomyx may be unable to develop flavor
ingredients useful for formulation into products; Senomyx or its
collaborators may be unable to obtain and maintain the regulatory approval
required for flavor ingredients to be incorporated into products that are
sold; even if Senomyx or its collaborators receive a regulatory approval
and incorporate Senomyx flavor ingredients into products, those products
may never be commercially successful; and Senomyx's ability to compete in
the flavor ingredients market may decline if Senomyx does not adequately
protect its proprietary technologies. These and other risks and
uncertainties are described more fully in Senomyx's most recently filed SEC
documents, including its Annual Report on Form 10-K and Quarterly Reports
on Form 10-Q, under the headings "Risks Related to Our Business" and "Risks
Related to Our Industry." All forward-looking statements contained in this
press release speak only as of the date on which they were made. Senomyx
undertakes no obligation to update such statements to reflect events that
occur or circumstances that exist after the date on which they were made.
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