Senomyx Announces Five-Year Discovery and Development Collaboration With Nestle SA

27 Oct, 2004, 01:00 ET from Senomyx, Inc.

    LA JOLLA, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Senomyx, Inc.
 (Nasdaq:   SNMX) announced today an exclusive five-year discovery and
 development agreement with Nestle SA for the discovery and commercialization
 of novel flavor ingredients in the coffee and coffee whitener fields.  This is
 the second collaboration between Senomyx and Nestle, the world's largest food
 company.  The first collaboration, which was entered into in 2002, is focused
 on the discovery of novel flavors and flavor enhancers in the dehydrated and
 culinary food, frozen food and wet soup fields.  Under the terms of the new
 agreement, Nestle has agreed to pay Senomyx discovery and development funding
 for up to five years based on research progress during the collaborative
 period.  In addition, Senomyx is eligible to receive milestone payments upon
 achievement of specific product discovery and development goals.  The combined
 total of research funding and milestone payments could exceed $13 million if
 all milestones are met.  Upon commercialization, Senomyx will receive royalty
 payments based on sales of products containing new flavor ingredients
 developed under the agreement.
     "We are extremely pleased to establish a second collaboration with Nestle.
 We believe this new agreement provides further technical and commercial
 validation of Senomyx as we continue to build our relationship with Nestle by
 expanding into new segments of their business," stated Kent Snyder, President
 and Chief Executive Officer of Senomyx.  "Our goal is to continue to leverage
 our discovery and development capabilities by establishing additional
 collaborations with market leading companies seeking to improve the
 nutritional profile, reduce costs, or improve other attributes of their
 products," added Snyder.
 
     About Senomyx
     Senomyx is a leading biotechnology company using proprietary taste
 receptor-based assays and screening technologies to discover and develop novel
 flavor enhancers and taste modulators for the packaged food and beverage
 industry.  Senomyx has entered into product discovery and development
 collaborations with four of the world's leading packaged food and beverage
 companies: Campbell Soup Company, The Coca-Cola Company, Kraft Foods Global,
 Inc. and Nestle SA.  Senomyx's current programs focus on the discovery and
 development of flavor enhancers and taste modulators in taste areas including
 savory, sweet and salt.
 
     About Nestle SA
     Nestle with headquarters in Vevey, Switzerland was founded in 1866 by
 Henri Nestle and is today the world's biggest food and beverage company.
 Sales in 2003 were over $65 billion.  Nestle employs approximately
 253,000 people worldwide and has operations in almost every country in the
 world.  The company's market leading brands include Carnation, Nesquik,
 Perrier, Pellegrino, Nescafe, Stouffer's, Lean Cuisine, Hot Pockets, Buitoni,
 Maggi, Butterfinger, Crunch, Kit Kat, Dreyers and Haagen Dazs.
 
     Forward-looking Statements
     Statements included in this press release that are not a description of
 fact are forward-looking statements, including, but not limited to, statements
 regarding plans for the Company's taste receptor research, future products or
 additional collaborations.  The inclusion of forward-looking statements should
 not be regarded as a representation by Senomyx that any of its plans,
 projections or future financial, scientific or business objectives will be
 achieved.  The Company's actual results may differ materially from any
 projected future results set forth in this release as a result of the risks
 and uncertainties inherent in Senomyx's business including, without
 limitation, difficulties or delays in developing, testing, obtaining
 regulatory approval, producing and marketing our flavor enhancers, taste
 modulators and related technologies; whether we will be able to enter into
 additional collaborations; the progress and timing of our scientific programs;
 changes in the laws or regulations of the United States and other countries
 that could adversely affect our and our collaborators' ability to develop and
 commercialize our products; whether any of its collaborations will result in
 the discovery and development of novel flavor enhancers or taste modulators,
 improve the nutritional profile of products incorporating them or otherwise
 enhance the Company's market position; our ability to protect our intellectual
 property and proprietary technology and to maintain and enforce our licensing
 arrangements with various third party licensors;  our ability to define the
 scope and validity of patent protection for our products and technologies;
 competition from other biotechnology companies and flavor manufacturers and
 other risks detailed in Senomyx's Securities and Exchange Commission filings,
 including the prospectus filed in connection with our IPO and our Quarterly
 Report on Form 10-Q for the fiscal quarter ended June 30, 2004.  You are
 cautioned not to place undue reliance on these forward-looking statements,
 which speak only as of the date hereof.  All forward-looking statements are
 qualified in their entirety by this cautionary statement and Senomyx
 undertakes no obligation to revise or update this news release to reflect
 events or circumstances after the date hereof.
 
 

SOURCE Senomyx, Inc.
    LA JOLLA, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Senomyx, Inc.
 (Nasdaq:   SNMX) announced today an exclusive five-year discovery and
 development agreement with Nestle SA for the discovery and commercialization
 of novel flavor ingredients in the coffee and coffee whitener fields.  This is
 the second collaboration between Senomyx and Nestle, the world's largest food
 company.  The first collaboration, which was entered into in 2002, is focused
 on the discovery of novel flavors and flavor enhancers in the dehydrated and
 culinary food, frozen food and wet soup fields.  Under the terms of the new
 agreement, Nestle has agreed to pay Senomyx discovery and development funding
 for up to five years based on research progress during the collaborative
 period.  In addition, Senomyx is eligible to receive milestone payments upon
 achievement of specific product discovery and development goals.  The combined
 total of research funding and milestone payments could exceed $13 million if
 all milestones are met.  Upon commercialization, Senomyx will receive royalty
 payments based on sales of products containing new flavor ingredients
 developed under the agreement.
     "We are extremely pleased to establish a second collaboration with Nestle.
 We believe this new agreement provides further technical and commercial
 validation of Senomyx as we continue to build our relationship with Nestle by
 expanding into new segments of their business," stated Kent Snyder, President
 and Chief Executive Officer of Senomyx.  "Our goal is to continue to leverage
 our discovery and development capabilities by establishing additional
 collaborations with market leading companies seeking to improve the
 nutritional profile, reduce costs, or improve other attributes of their
 products," added Snyder.
 
     About Senomyx
     Senomyx is a leading biotechnology company using proprietary taste
 receptor-based assays and screening technologies to discover and develop novel
 flavor enhancers and taste modulators for the packaged food and beverage
 industry.  Senomyx has entered into product discovery and development
 collaborations with four of the world's leading packaged food and beverage
 companies: Campbell Soup Company, The Coca-Cola Company, Kraft Foods Global,
 Inc. and Nestle SA.  Senomyx's current programs focus on the discovery and
 development of flavor enhancers and taste modulators in taste areas including
 savory, sweet and salt.
 
     About Nestle SA
     Nestle with headquarters in Vevey, Switzerland was founded in 1866 by
 Henri Nestle and is today the world's biggest food and beverage company.
 Sales in 2003 were over $65 billion.  Nestle employs approximately
 253,000 people worldwide and has operations in almost every country in the
 world.  The company's market leading brands include Carnation, Nesquik,
 Perrier, Pellegrino, Nescafe, Stouffer's, Lean Cuisine, Hot Pockets, Buitoni,
 Maggi, Butterfinger, Crunch, Kit Kat, Dreyers and Haagen Dazs.
 
     Forward-looking Statements
     Statements included in this press release that are not a description of
 fact are forward-looking statements, including, but not limited to, statements
 regarding plans for the Company's taste receptor research, future products or
 additional collaborations.  The inclusion of forward-looking statements should
 not be regarded as a representation by Senomyx that any of its plans,
 projections or future financial, scientific or business objectives will be
 achieved.  The Company's actual results may differ materially from any
 projected future results set forth in this release as a result of the risks
 and uncertainties inherent in Senomyx's business including, without
 limitation, difficulties or delays in developing, testing, obtaining
 regulatory approval, producing and marketing our flavor enhancers, taste
 modulators and related technologies; whether we will be able to enter into
 additional collaborations; the progress and timing of our scientific programs;
 changes in the laws or regulations of the United States and other countries
 that could adversely affect our and our collaborators' ability to develop and
 commercialize our products; whether any of its collaborations will result in
 the discovery and development of novel flavor enhancers or taste modulators,
 improve the nutritional profile of products incorporating them or otherwise
 enhance the Company's market position; our ability to protect our intellectual
 property and proprietary technology and to maintain and enforce our licensing
 arrangements with various third party licensors;  our ability to define the
 scope and validity of patent protection for our products and technologies;
 competition from other biotechnology companies and flavor manufacturers and
 other risks detailed in Senomyx's Securities and Exchange Commission filings,
 including the prospectus filed in connection with our IPO and our Quarterly
 Report on Form 10-Q for the fiscal quarter ended June 30, 2004.  You are
 cautioned not to place undue reliance on these forward-looking statements,
 which speak only as of the date hereof.  All forward-looking statements are
 qualified in their entirety by this cautionary statement and Senomyx
 undertakes no obligation to revise or update this news release to reflect
 events or circumstances after the date hereof.
 
 SOURCE  Senomyx, Inc.