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Amyris, Inc. (Nasdaq: AMRS) is a pioneering synthetic biotechnology company that leverages its Lab-to-Market™ technology platform to facilitate the world's shift towards sustainable consumption. Founded with the vision of transforming the Clean Health & Beauty and Flavors & Fragrances markets, Amyris specializes in converting plant sugars into essential hydrocarbon molecules, specialty ingredients, and consumer products using innovative bioscience solutions. The company's proprietary technology platform utilizes advanced machine learning, robotics, and artificial intelligence to bring new innovations to market at commercial scale, resulting in products incorporated into over 20,000 items from leading global brands, impacting more than 300 million consumers.
Recently, Amyris has undergone significant changes to optimize its operations and financial health. In June 2023, the company announced the resignation of its President & CEO, John Melo, with Han Kieftenbeld stepping in as Interim CEO while continuing his role as CFO. This leadership change aligns with Amyris' broader strategy to streamline its business and achieve cost reduction targets, including a global reduction in force and collaboration with PricewaterhouseCoopers (PwC) to implement 'Fit-to-Win' cost actions estimated at $250 million.
Further advancing its strategic transformation, Amyris commenced voluntary Chapter 11 proceedings in August 2023 to restructure its operations and financial framework. This restructuring aims to enhance the company's cost structure, capital position, and liquidity, allowing it to refocus on its core competencies in research and development, commercialization, and the application of sustainable ingredients through biofermentation. As part of this effort, Amyris plans to exit from its consumer brands, marketing them for sale while continuing to operate them through retail and e-commerce platforms during the transition.
Amyris has secured $190 million in debtor-in-possession financing from Foris Ventures to support its daily operations and meet its commitments to employees, customers, and partners throughout the restructuring process. The company is committed to maintaining its innovative edge and remains dedicated to introducing sustainable, effective, and accessible products to market, ensuring a path toward profitable growth and sustained cash generation.
More information about Amyris and its ongoing projects and initiatives can be found on their official website, www.amyris.com.
Amyris, Inc. (AMRS) has signed a Collaboration and License Agreement with the Infectious Disease Research Institute (IDRI) to advance a novel RNA vaccine platform, focusing on a COVID-19 vaccine. This partnership combines IDRI's RNA technology with Amyris's semi-synthetic squalene, offering potential advantages like scalability and efficacy. Both organizations will co-own the resulting intellectual property, with a Phase 1 clinical trial expected to start mid-2021. The project aims to address COVID-19 and other infectious diseases, with a completion target in early 2022.
Arzeda has announced a joint development agreement with Amyris to advance the development of high-value ingredients through innovative enzyme design. This collaboration, a continuation of their previous successful project funded by DARPA, involves Arzeda creating novel enzymes that Amyris will integrate into its fermentation processes. The project is milestone-based, with potential for early success payments and shared product commercialization revenues. Both companies anticipate developing fermentation strains featuring Arzeda's designed enzymes by 2021.
Amyris, Inc. (Nasdaq: AMRS) announced on October 1, 2020, that it is providing samples of a sustainable alternative to shark-based vaccine adjuvants to pharmaceutical companies. This alternative, derived from sugarcane, aims to replace non-sustainable shark-derived squalene used in vaccines for influenza and COVID-19. The company expects to commercialize this product in Q4 2020. CEO John Melo emphasized the importance of sustainability in their production process, which protects marine resources while contributing to vaccine efficacy.
Amyris announced that its Pipette baby care brand has been selected as a winner in Alibaba's Tmall Global Go Global 11.11 Pitch Fest. This recognition enables Pipette to launch in China on November 11, 2020, coinciding with Singles' Day, the largest online shopping event globally, with projected sales of $45 billion. Alibaba highlighted Pipette's innovative story and safety focus as key factors in its selection. The launch aims to meet the demand for safe, sustainable baby products among Chinese consumers, enhancing Pipette's market presence and growth potential.
Amyris, Inc. (Nasdaq: AMRS) announced on Sept. 15, 2020, that its Reb M natural sweetener has received approval from Health Canada for use in food products. This sweetener, derived from sugarcane, is part of Amyris' portfolio for home and personal care, food and beverage, and clean beauty markets. Reb M can be used in various food items, providing an alternative to sugar and complying with Canadian labeling laws. Following this approval, over 300 manufacturers are exploring Reb M for product development in Canada, the USA, and Latin America.
Amyris, Inc. (Nasdaq: AMRS) announced that CEO John Melo will present a business overview at the H.C. Wainwright 22nd Annual Global Investment Virtual Conference on Sept. 14, 2020, at 10:00 a.m. ET. The company will also engage in virtual one-on-one meetings during the event. Amyris is recognized for its innovation in producing sustainable ingredients for the Clean Health and Beauty markets, featuring brands like Biossance, Pipette, and Purecane. A live webcast of the presentation will be available on its investor relations website.
Amyris, Inc. (Nasdaq: AMRS) has responded to a lawsuit filed by LAVVAN, Inc. on September 10, 2020, claiming patent infringement and trade secret misappropriation. Despite this, Amyris maintains that it has adhered to their Research, Collaboration and License Agreement (RCL Agreement) initiated in March 2019, valued at $300 million. The company emphasizes that its 2020 revenue expectations remain unaffected and that it will vigorously defend against LAVVAN's allegations. Amyris continues to focus on developing sustainable ingredients for Clean Health and Beauty markets.
LAVVAN, Inc. filed an $881 million lawsuit against Amyris (Nasdaq: AMRS) for allegedly using LAVVAN's intellectual property and misappropriating trade secrets. The case, filed in the Southern District of New York, stems from a 2019 collaboration agreement that LAVVAN claims Amyris has violated. LAVVAN seeks damages for trade secret misappropriation and patent infringement, as well as a permanent injunction against Amyris's use of its intellectual property.
Amyris, a leader in synthetic biotechnology, will present at the H.C. Wainwright 22nd Annual Global Investment Virtual Conference on September 14, 2020, at 10:00 a.m. ET. CEO John Melo will discuss the company's performance and progress, with a live webcast available on its investor relations website. Amyris specializes in sustainable ingredients for Clean Health and Beauty markets, owning three consumer brands: Biossance, Pipette, and Purecane. The presentation will not include a Q&A session.
Amyris, Inc. (Nasdaq: AMRS) has successfully scaled up the commercial production of Cannabigerol (CBG) using its fermentation process. The company expects to deliver one ton of high purity CBG this year, anticipating first commercial revenue from its sale. CBG, known for its therapeutic potential, is produced at a lower cost with higher purity than traditional methods. Amyris reports that CBG shows superior efficacy in topical applications compared to CBD. This marks the tenth product developed at scale through its biotechnology platform, underscoring its growth strategy in sustainable ingredient production.
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