Switzerland-based Firmenich, with U.S. headquarters in Princeton, announced it will merge with San Diego-based Senomyx, Inc. under which Firmenich will acquire all of the outstanding common stock of Senomyx for $1.50 per share in cash. The companies expect to close the transaction in the fourth quarter of 2018.
“Senomyx has established itself as a leader in taste innovation and a recognized pioneer in sweet, cooling and bitter solutions,” said Patrick Firmenich, chairman of the board, Firmenich. “Building on our long-term partnership spanning more than a decade, we look forward to welcoming Senomyx into Firmenich to lead in taste and nutrition.”
“We are excited to be joining Firmenich,” stated John Poyhonen, president and chief executive officer of Senomyx. “Firmenich’s commitment to innovation and delivery of world-class commercialization capabilities combined with our long standing relationship makes this deal the ideal fit for our companies. We believe this merger will allow the Senomyx discoveries to reach their full potential. I would like to personally thank all our employees for their dedication and contributions in building a leading proprietary taste science technology platform that will benefit consumers around the globe well into the future.”
“Building on our world-class science and pioneering taste platform, this strategic acquisition confirms our commitment to being the partner of choice in taste and nutrition,” said Gilbert Ghostine, CEO Firmenich. “Adding Senomyx’s leading taste technologies and strong natural ingredients pipeline to our taste platform, uniquely positions us to create healthy and great tasting food, drink and oral care experiences for our customers.”
Senomyx will be integrated into Firmenich’s North America Research & Development (R&D) organization and its products will be commercialized through its Taste Platform. Senomyx R&D operations will remain in San Diego, with a continued focus on discovering and developing world-class flavor and sweetener solutions for the world’s greatest brands. Firmenich looks forward to continuously advancing Senomyx’s innovative pipeline of products and its discovery capabilities to shape the most differentiating natural taste solutions for its customers. Innovation-driven and recognized for its world-class ingredient screening capabilities, Senomyx recently identified and has started to develop a high intensity and a clean tasting sweetener, Siratose, which naturally occurs in Monkfruit.
To access more business news, visit NJB News Now.Related Articles: