Redpoint Bio Signs Research & Technology Development Agreement with The Coca-Cola Company
EWING, N.J. Redpoint Bio Corp., a company that develops ingredients to improve the taste of pharmaceutical, food and beverage products, on Friday announced that it has signed a research agreement with The Coca-Cola Company to develop proprietary technology for use in non-alcoholic beverages.
Under terms of the one-year agreement, for a six-month period beginning on the effective date of the agreement, Redpoint has granted Coca-Cola an exclusive right to negotiate to extend and expand the collaboration into a broader, multi-year research, development and commercialization program.
“We believe this agreement is a further endorsement of Redpoint Bio’s unique capabilities for the discovery and development of beverage technology. We look forward to working with The Coca-Cola Company team,” said Ray Salemme, chief executive officer of Redpoint Bio.
For more information, see the related 8-K filing by Redpoint Bio with the Securities and Exchange Commission.