EMERYVILLE, Calif. and AMSTERDAM, The Netherlands, April 9, 2015 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, and Squalan Natural Health B.V., a privately held, personal care product company based in The Netherlands, have entered into agreements for the production and marketing of Neossance Squalane-based personal care products.
The partnership between Amyris and Squalan accelerates development and market penetration of skin care and personal care products containing Amyris's Neossance Squalane, which is produced from plant sugars. Under this new relationship, Squalan will market and sell Neossance-based products to retailers and consumers, primarily in the European Union.
Neossance Squalane is one of the highest quality emollients available. It has exceptional moisturizing properties with proven performance, and offers a silky, smooth and elegant texture without a greasy, heavy after feel, making it attractive to formulators and product developers such as Squalan.
As part of the agreement, Amyris is investing in Squalan and will have an option to acquire an ownership stake in Squalan and the right to appoint a member of Squalan's board of directors. Squalan will continue to be managed by founders Leslie van der Meijden and Monique Hugen.
"Amyris is excited to work with Squalan to help expand Squalan's operations and rapidly increase its market penetration with best-in-class products. The innovative and entrepreneurial spirit of Squalan and its founders along with their commitment to high quality products make them an ideal partner for Amyris. We're excited to continue building on the momentum from a strong first quarter," said John Melo, President and CEO of Amyris.
"We are proud to work with such an amazing company in Amyris and are excited about showing the world our lovely products," said Monique Hugen, Co-Founder of Squalan.
"We are thrilled about our relationship with Amyris and the opportunity to work with a company so far away in distance, yet so close in philosophy, values and belief in the future of squalane-based products," said Leslie van der Meijden, Co-Founder of Squalan.
About the Companies
Amyris is a global renewable products company providing sustainable alternatives to a variety of non-renewable resources. Amyris uses its innovative bioscience technology to convert plant sugars into hydrocarbon molecules. Amyris creates ingredients and is commercializing its No Compromise® products in the flavors and fragrances, cosmetics, specialty fluids, polymers, lubricants, and fuels industries. Amyris Brasil Ltda., a subsidiary of Amyris, oversees the establishment and expansion of Amyris's production in Brazil. More information about Amyris is available at www.amyris.com.
Squalan Natural Health is a Dutch company that develops and markets innovative, renewable personal care products containing Amyris's Neossance Squalane as an ingredient. Squalan markets products directly to consumers and is establishing distribution channels. More information about Squalan is available at www.squalan.com.
Amyris Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as the development and commercialization of personal care products) that involve risks and uncertainties. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including those associated with any delays or failures in development, production and commercialization of products, liquidity and ability to fund capital expenditures, Amyris's reliance on third parties to achieve its goals, and other risks detailed in the "Risk Factors" section of Amyris's annual report on Form 10-K filed on March 31, 2015. 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, the Amyris logo, Neossance and No Compromise are trademarks or registered trademarks of Amyris, Inc. All other trademarks are the property of their respective owners.