EMERYVILLE, Calif., June 12, 2018 (GLOBE NEWSWIRE) — Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced that it has executed an agreement for a significant project consortium in Europe with the Universidade Católica Portuguesa (UCP) Porto Campus and AICEP Portugal Global (AICEP). UCP is a university system, including the leading biotech school in Portugal, and operates 15 research centers. AICEP is an independent public entity of the Government of Portugal, focused in encouraging the best foreign companies to invest in Portugal.
Today’s announcement is a follow up to the announcement Amyris made on January 17, 2018 regarding grants in both Europe and with the National Institute of Health, with the grant in Europe tied to the project consortium announced today. The project goals entail collaboration in advancing the use of Amyris’s leading technology platform and capabilities to, among other things:
- Explore means of using waste from fermentation to develop new products and applications from co-products. This valorization of co-products is expected to significantly reduce production cost and create additional sustainability in the production process.
- Advance Amyris’s artificial intelligence (AI) and Informatics platform. This includes providing a cloud-based interface whereby universities and companies could utilize aspects of the company’s advanced platform to design genes for potential molecule development. Amyris would be positioned to take development and testing of marketable target molecules to the next level and commercial scale.
Largest Known Biotechnology Grant Ever Awarded in Portugal
The overall multi-year project is valued up to approximately $50 million including investment funding and incentives allotted across the parties involved. Amyris believes this is the largest biotechnology grant ever awarded in Portugal and one of the largest ever approved by the AICEP for commercial applications. Amyris has sole responsibility for commercialization and majority ownership of all IP generated.
“We are pleased to have completed this agreement, which marks an important development in our role in expanding the global use of our leading industrial biotechnology capabilities to create sustainable products for our global partners,” said John Melo, Amyris President and CEO. “We appreciate the support of the Portuguese Government and the European Union who are supporting our partnership with UCP to hire the leading scientists across Europe to work in Portugal to help us create more products from our waste streams that can help make our planet healthier.”
Universidade Católica Portuguesa
Universidade Católica Portuguesa is an academic community that helps defend and develop the human being and his/her cultural heritage through research, teaching and community services. It has a major presence in the Portuguese university world, characterized by a humanist vision and with groundbreaking contributions in all areas of knowledge. The University has 13 schools, 15 research centers and 1100 researchers and faculty across different fields: Business and Economics; Humanities, Arts and Social Science; Law and Political Studies; Health and Technologies. In 50 years, the University has created the leading Schools of Biotechnology, Business and Dentistry in Portugal; and it is an international leader in Arts management and Law. Founded in the 90’s, the Research Centre of Biotechnology and Fine Chemistry (CBQF), part of the School of Biotechnology, has been developing knowledge and innovation in three main areas: Biobased & Biomedical Products, Food & Nutrition, and Environment & Resources. www.ucp.pt
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. More information about the company is available at www.amyris.com.
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as the expected advancement of the use of Amyris’s technology platform resulting from the project, including production cost reduction, production process sustainability and advancements in development and testing of target molecules, and the anticipated size and value of the project), that involve risks and uncertainties. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris’s liquidity and ability to fund operating and capital expenses, potential delays or failures in development, production and commercialization of products, risks related to Amyris’s reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners.