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4-Traders Homepage  >  Equities  >  Nasdaq  >  Amyris Inc    AMRS

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AMYRIS : Signs Contract Manufacturing Agreement with Tate & Lyle

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11/04/2010 | 09:10pm CET

Amyris, Inc. (NASDAQ:AMRS) announced today that it has entered into a contract manufacturing agreement with Tate & Lyle Ingredients Americas, Inc., an affiliate of Tate & Lyle PLC (LSE:TATE). Under this arrangement, Tate & Lyle will produce farnesene at its facilities in Decatur, IL; the produced farnesene will be owned and distributed by Amyris.

This arrangement with Tate & Lyle expands Amyris's contracted production capacity. Amyris entered into a similar agreement in June 2010 with a facility of Biomin GMBH in Piracicaba, Brazil. Amyris expects to begin production of farnesene at the Biomin facility in the first half of 2011.

Amyris is using contract manufacturing capacity to produce farnesene at commercial scale to supply customer demand in advance of the start up of Amyris's first commercial plant under its joint venture with Grupo São Martinho (SA:SMTO3).

?We are excited to be collaborating with Tate & Lyle to accelerate our commercial production of farnesene,? said John Melo, CEO of Amyris. ?Beyond supporting our commercial production targets in 2011, we believe that this partnership will allow us to leverage Tate & Lyle's world leading expertise in aseptic fermentation operations as we ramp our industrial scale.?

?We are delighted to be working with Amyris to help them achieve the first commercialization of its farnesene,? said Matt Wineinger, President, Bulk Ingredients, Tate & Lyle. ?The combination of our facilities and expertise and Amyris's fermentation processes and equipment are a truly excellent fit.?

About Amyris

Amyris is building an integrated renewable products company by applying industrial synthetic biology to genetically modify microorganisms to serve as living factories. Amyris designs these microorganisms to produce defined molecules for use as renewable chemicals and transportation fuels. Amyris Brasil S.A., a subsidiary of Amyris, oversees the establishment and expansion of Amyris's production in Brazil, including SMA Indústria Química S.A., its joint venture with São Martinho. In addition, Amyris is building fuels distribution capabilities in the United States through its subsidiary, Amyris Fuels LLC. More information about Amyris and its subsidiaries is available at www.amyris.com.

Forward-Looking Statements

This release may be deemed to contain forward-looking statements, which are which are subject to safe harbor provisions under the Securities Act of 1933, as amended, or the Securities Act, and the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts are statements that could be deemed forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as statements regarding Amyris's expectations for the commencement of production at the Tate & Lyle and Biomin production facilities, customer demand for Amyris products, benefits of the Tate & Lyle manufacturing arrangement, including the ability to produce farnesene at commercial scale, and timing for commercial production) that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are based on management's current expectations and actual results and future events may differ materially from those projected due to a variety of factors, including: Amyris's limited operating history and lack of revenues generated from the sale of its renewable products; Amyris's inability to increase yield in yeast strains producing target molecules and decrease production costs to enable sales at competitive prices; technical infeasibility of engineering new target molecules; delays in production and commercialization of products due to technical, operational, cost and counterparty challenges; challenges in developing customer base in markets with established and sophisticated competitors; currency exchange rate and commodity price fluctuations; changes in regulatory schemes governing genetically modified organisms and fuels; and other factors detailed in Amyris's Securities and Exchange Commission filings, including the risks identified under the section captioned ?Risk Factors? in its final prospectus relating to its initial public offering filed pursuant to Rule 424(b) under the Securities Act on September 28, 2010. 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, Inc.
Erin Kinsella, 510-597-4713
pr@amyris.com


© Business Wire 2010
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Financials ($)
Sales 2016 83,7 M
EBIT 2016 -63,8 M
Net income 2016 -63,2 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 2,64x
Capi. / Sales 2017 1,29x
Capitalization 221 M
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Number of Analysts 3
Average target price 2,15 $
Spread / Average Target 156%
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NameTitle
John G. Melo President, Chief Executive Officer & Director
Geoffrey M. Duyk Chairman
Raffi Asadorian Chief Financial Officer
Joel Cherry President-Research & Development
Louis John Doerr Independent Director
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