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Amyris Inc (NASDAQ: AMRS), a synthetic biotechnology company, has completed the negotiation of key financial and business terms for the exclusive rights to supply two of its ingredients. The transaction has an expected value of over $500 million.
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Both parties have agreed to confidentiality regarding further details about the transaction, which is subject to antitrust review under the Hart-Scott-Rodino Act (HSR) with a standard waiting period of thirty days.
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Amyris would continue to develop, scale and manufacture the ingredients. In addition, the parties are expected to enter a long-term R&D collaboration partnership to develop new molecules.
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"This is our third transaction of this nature and what we believe to be a strategic part of our business model for the value creation of our technology," said CEO John Melo.
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The transaction is expected to sign and close early in the first quarter of 2023.
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Price Action: AMRS shares are trading lower by 4.12% at $1.86 on the last check Tuesday.
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