AMRS - Amyris stock rises 10% as Amyris to acquire certain cosmetic ingredients

• Givaudan is acquiring certain cosmetic ingredients from Amyris ( NASDAQ: AMRS ) and signed a manufacturing agreement.
• The transaction include Neossance Squalane, a performant emollient, Neossance Hemisqualane, a plant-based silicone alternative, and CleanScreen, a sun protector.
• The companies have signed a long-term partnership agreement under which Amyris will continue to make ingredients for Givaudan to use in cosmetics, and provide access to their innovation capabilities.
• Meanwhile, Givaudan will become the commercialization partner for future sustainable beauty ingredients.
• The deal includes a combination of upfront cash, a performance based earnout, and the long-term manufacturing agreement.
• Additional details were not been disclosed.
• Givaudan intends to fund the transaction from existing resources.
• Amyris' active cosmetic ingredients business would have represented ~$30M of incremental sales to Givaudan's results in 2022 on a proforma basis, the companies noted.
• "I am delighted about this transaction, which fits perfectly with our 2025 strategic ambitions to develop our Active Beauty business while leveraging our biotechnology leadership in partnership with Amyris' expertise," said Fragrance & Beauty's President Maurizio Volpi.
• The deal is subject to conditions and approvals from  regulators.
• AMRS +10.14% to $1.52 premarket Feb. 22

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