On the Street -- Redpoint, Givaudan Terminate Agreement
April 15/Health Business Week -- Redpoint Bio Corporation announced the termination of its research & development collaboration and licensing agreement by partner Givaudan. Signed in March of 2007, the collaboration was focused on the discovery of novel taste modulators for use in the food and beverage industry.
"While we are disappointed with the conclusion of our partnership with Givaudan, we believe that Redpoint's technology platform continues to provide opportunities to discover new products for both the food and beverage and pharmaceutical industries," commented Dr. Ray Salemme, chief executive officer of Redpoint Bio. "We continue to advance our taste modulation discovery programs, in addition to investigating potential therapeutic applications for our compounds for the treatment of diabetes and obesity. We recognize that due to strategic changes in focus, Givaudan was not able to continue with our collaboration. However, we continue to maintain a positive relationship with Givaudan, the world's leading company in the flavors and fragrances industry.
From the April 27, 2009, Prepared Foods E-dition