Amyris, Inc. (Nasdaq: AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today reported that it has successfully shipped the first cannabinoid to its partner, LAVVAN. Amyris is also well on its way to the shipment of a second cannabinoid in the first half of 2020.
These ingredients are produced with Amyris’s fermentation technology platform delivering the leading quality and high purity at a significantly reduced cost relative to cannabis plant grown and derived ingredients. The company’s technology allows Amyris to scale ingredients that are rarer within the cannabis plant, and difficult and extremely expensive to extract in quantity. This is the 10th unique fermentation molecule Amyris has currently in production. Amyris is a market leader in Clean Beauty and natural ingredients from fermentation and currently has 22 additional molecules in development with some of the world’s leading companies as partners and long-term supply and commercialization agreements to ensure successful market entry.
The company also announced today that it has agreed on business terms for a partnership with a leading Asian pharmaceutical company to develop and scale a breakthrough target for a rare oncology treatment. In addition to the success in cannabinoids and the new opportunity in oncology the company has also agreed to significantly expand its current collaboration with its Chinese partner for vitamins. Amyris plans to provide further details on these agreements at an investor update meeting to be scheduled in February. These new agreements represent several millions of dollars in collaboration payments annually for the next several years. Biossance is also having an excellent quarter with Biossance.com now representing about 50% of Biossance revenue and Sephora continuing to deliver excellent growth.
“We are very pleased to end 2019 with strong operational performance and business momentum,” said John Melo, President and CEO of Amyris. “We plan to continue building on our position as the leading synthetic biology company by continuing to deliver the highest purity and most sustainably sourced ingredients for the Health, Beauty and Flavor and Fragrance industries. Our brands are delivering the leading products in their respective categories and this is helping us deliver an excellent quarter. We expect to have our financing needs behind us early in 2020 and a strong year of profitable growth.”
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 and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products and services across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals.