Amyris (NASDAQ: AMRS), an industrial bioscience company, this morning reported that it has expanded its previously announced partnership with a global nutraceuticals market leader in a deal that extends Amyris’ expected revenue and includes the addition of a new nutraceutical target, a credit line of up to $25 million with a five-year maturity, and an option for a $5-million strategic investment from one of the world’s leading nutraceuticals manufacturers. As part of the initial agreement, Amyris has already started large shipments of farnesene; the partner is nearing completion of a dedicated manufacturing facility to convert Amyris’ farnesene and expand volume production over time. Amyris said it now expects 2017 revenue for the first targeted product of around $40 million and anticipated revenues from the expanded partnership are expected to average over $70 million annually beyond 2017.
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About Amyris, Inc.
Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules, specialty ingredients and consumer products. The company is delivering its No Compromise® products in focused markets, including specialty and performance chemicals, fragrance ingredients, and cosmetic emollients. More information about the company is available at www.amyris.com
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