The collaboration concerns a joint development of novel fermentation production routes for a natural functional ingredient for application in personal care.
Ajinomoto is a Japanese company and a world leader in the area of amino acids. During the collaboration which is planned for 3 ½ years, Ajinomoto will fund research and development activities at Evolva. Evolva will receive an upfront exclusivity and technology access fee as well as monthly research fees. The company will also receive milestone payments upon achieving certain goals in terms of yield, productivity and production costs.
The total fees and milestone payments to Evolva during the collaboration will amount to more than CHF 10 million. In case of commercialization, Evolva will receive a royalty as a percentage on product sold.
“We value highly the confidence in our capabilities that Ajinomoto Co is showing by entering into this collaboration. We look forward to providing Ajinomoto Co with efficient production routes for their important product. For Evolva, this project has long-term benefits as it allows us to build a pathway which can be important for other products,” said Neil Goldsmith, Chief Executive Officer of Evolva in a press release.