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Reinach, Switzerland – Evolva Holding SA (SIX: EVE) today announced that it has entered into a collaboration and joint development agreement with International Flavors & Fragrances Inc. (IFF), one of the world’s leading creators and manufacturers of flavours and fragrances for consumer products.
The objective of the collaboration is to implement a commercially viable biosynthetic route for the production of a key flavouring ingredient.
Under the multi-year agreement, IFF will fund research and development activities at Evolva, focused primarily on the pathway and yield stages of the program through the scale-up and manufacturing phases.
During the collaboration, approximately ten full-time equivalents per year are expected to work on the program.
Evolva will receive an upfront technology access fee as well as monthly research fees.
In addition, Evolva will receive milestone payments upon achieving certain goals in terms of yield and production volumes.
The access fee and the milestone payments will be mid single-digit (USD million) amounts.
IFF will commercialize the resulting product and Evolva will receive a royalty on product sales based on both margin and volume.
Neil Goldsmith, CEO & Managing Director of Evolva, said: “After FOSU and Abunda, this is our third collaboration in the food ingredient space within a year. We’re very pleased that our synthetic biology platform is increasingly being recognized as useful to design and optimize production routes for products in health and nutrition. We’re looking forward to working with IFF, one of the leading players in the area of flavours and fragrances.”