SAN DIEGO (AP) - Senomyx Inc., which develops ingredients and additives for
the food and beverage industry, said Friday it has signed a two-year contract
extension with Coca-Cola Co.
The agreement, which calls for Senomyx to develop and commercialize
ingredients for the world's largest beverage maker's nonalcoholic offerings, now
extends through April 22, 2010.
The beverage maker has agreed to pay $4 million in research funding during
the two-year extension and the company is still eligible for research and
development milestone payments.
Atlanta-based Coca-Cola has also agreed to make royalty payments when
ingredients developed by Senomyx are commercialized.
Coca-Cola shares slipped 47 cents to $60.21 in morning electronic trading;
Senomyx shares rose 20 cents to $6.12.
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