NEW YORK--(BUSINESS WIRE)--Feb. 5, 2013--
International Flavors & Fragrances Inc. (NYSE: IFF), a
leading global creator of flavors and fragrances for consumer products
and Evolva Holding SA, Reinach, Switzerland (SIX: EVE), a
biosynthesis technology expert, today announced that they have entered
into pre-production phase to develop and scale-up, via a third party,
natural vanillin for commercial application through a cost-effective,
natural and sustainable route. The two companies are working to confirm
scalability and yield targets through a yeast-based fermentation route
during the pre-manufacturing phase.
This announcement follows one in June 2012 where Evolva confirmed the
achievement of the first milestone in this collaboration. The
partnership between IFF and Evolva was originally signed and announced
in January 2011.
IFF VP of R&D Mark Dewis commented “We are very
excited about our collaboration with Evolva, an expert in the
biotechnology field, on the development of a key flavoring ingredient
that is used in IFF flavors and the potential to deliver a market
product with industry significance that is operationally scalable. If
the scale-up is successful, this innovative solution should provide a
sustainable source for what has been a volatile raw material and should
provide IFF customers with unique products.”
Evolva CEO Neil Goldsmith commented, “We have been working with
IFF for the last two years and are convinced that they are ideally
positioned to deliver on the sales and marketing of our vanillin
product. Teaming up with a recognised industry leader such as IFF
provides clear validation of the potential of our technology and
products. We strongly believe that fermentation as an innovative and
sustainable way to produce vanillin is a very attractive alternative to
the traditional production routes.”
About Evolva
Evolva’s mission is to discover and provide innovative, sustainable
ingredients for health, nutrition and wellness. Evolva uses
biosynthetic and evolutionary technologies to create and optimise small
molecule compounds and their production routes. We are active in
consumer healthcare and nutrition as well as in pharma. In both areas we
have partnered projects as well as proprietary programmes. For more
information see www.evolva.com.
About IFF
International Flavors & Fragrances Inc. (NYSE: IFF) is a leading global
creator of flavors and fragrances used in a wide variety of consumer
products. Consumers experience these unique scents and tastes in fine
fragrances and beauty care, detergents and household goods, as well as
beverages, sweet goods and food products. The Company leverages its
competitive advantages of consumer insight, research and development,
creative expertise, and customer intimacy to provide customers with
innovative and differentiated product offerings. A member of the S&P 500
Index, IFF has more than 5,700 employees working in 32 countries
worldwide. For more information, please visit our website at www.iff.com.
Forward-Looking Statements
This press release contains forward-looking statements under the
Federal Private Securities Litigation Reform Act of 1995, which are
often identified by words like “believe,” “assume,” “expect,” “should”
or similar expressions, and includes statements regarding expectations
regarding market acceptance of natural vanillin, the ability to scale-up
production of natural vanillin in a cost-effective, natural and
sustainable way, the expected unique qualities and competitive advantage
of natural vanillin. These forward-looking statements are qualified in
their entirety by cautionary statements and risk factor disclosures
contained in IFF’s filings with the U.S. Securities and Exchange
Commission, including IFF’s Annual Report on Form 10-K filed with the
Commission on February 28, 2012. We wish to caution readers that certain
important factors may have affected and could in the future cause actual
results to differ materially from those expressed in any forward-looking
statements made in this press release, including (1) the economic
climate for IFF’s industry and demand for its flavor ingredients; (2)
the ability of IFF and Evolva to successfully develop and scale-up
production of sustainable natural vanillin; (3) changes in consumer
preferences; and (4) IFF’s ability to successfully sell and market
natural vanillin. Against the background of these uncertainties
readers should not place undue reliance on forward-looking statements.
Neither Evolva nor IFF assumes responsibility to update forward-looking
statements or to adapt them to future events or developments after the
date of this press release.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130204006656/en/
Source: International Flavors & Fragrances Inc
Evolva
Neil Goldsmith, + 41 61 485 2005
CEO
neilg@evolva.com
or
Jakob
Dynnes Hansen, + 41 61 485 2034
CFO
jakobdh@evolva.com
or
Paul
Verbraeken, + 41 61 485 2035
IR
paulv@evolva.com
or
International
Flavors & Fragrances Inc.
Investors
Shelley
Young, 1-212-708-7271
Director of Investor Relations
Shelley.Young@iff.com
or
Media
Carol
Brys, 1-212-708-7121
Corporate Communications Manager
Carol.Brys@iff.com
