Senomyx Inc., a local biotech that makes flavor enhancers, has landed regulatory approval in China to sell two of its product ingredients: Sweetmyx SR96 and Bittermyx BB68.
The company’s ingredients help food and beverage companies make their products more palpable — especially low-calorie versions.
Sweetmyx, for example, is used to boost the sweet taste of products so that companies can reduce added sugar without sacrificing on the flavor. Bittermyx is used to reduce the bitterness of certain ingredients such as hydrolyzed soy and whey proteins, menthol, caffeine, cocoa, and stevia.
"China is a very large market opportunity with a population exceeding 1.3 billion people and retail packaged food and beverage sales of approximately $600 billion annually," said John Poyhonen, president and CEO of Senomyx, in a statement. "These approvals also further validate our ability to attain approval by major regulatory bodies throughout the world."
This regulatory approval allows Senomyx to pursue commercialization of these flavor ingredients in China in a wide range of foods and beverages.
Senonymx (Nasdaq: SNMX) is a public company in San Diego with a market cap of $193 million. The company’s stock price has been on the rise for the past two months, climbing 58 percent since July. It was trading for $4.34 on Wednesday at midday.