On July 7, 2008 we announced the amendment of our Collaborative Research and License Agreement dated July 15, 2005 with Cadbury Adams USA LLC to extend the collaborative period for an additional twelve months, through July 15, 2009. Under the terms of the extension, Cadbury has agreed to pay us incremental research funding of up to $600,000. During the extension period, we intend to continue to work with Cadbury for the discovery and commercialization of new flavor ingredients in the gum confectionary area. The level of funding for research during the term of the extension is commensurate with the funding level prior to the amendment. The potential milestone payments upon achievement of certain product discovery and development goals remain unchanged. Upon commercialization, we will receive royalty payments based on sales of products containing new flavor ingredients developed under the agreement.
The press release dated July 7, 2008 announcing our entry into the amendment and describing certain of its terms is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release of Senomyx, Inc. dated July 7, 2008.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SENOMYX, INC. |
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By: |
/s/ DAVID B. BERGER |
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David B. Berger |
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Vice President, General Counsel and |
Date: July 7, 2008
INDEX TO EXHIBITS
99.1 Press release of Senomyx, Inc. dated July 7, 2008.