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Senomyx 2010 Highlights

The following are summaries of selected Senomyx news during 2010. To access the full content of all 2010 and archived press releases including Forward Looking Statements, please visit http://news-media.senomyx.com/

Announced the expansion of the Company’s collaboration with Firmenich SA related to Senomyx’s sweet-taste technology to include natural flavor ingredients intended to enhance the taste of sucrose, fructose, and Rebaudioside (stevia). In consideration of the expansion of the agreement, Firmenich will pay to Senomyx additional research funding as well as milestones, minimum annual royalties, and royalties on sales of natural sweet enhancers developed under the collaboration. 
Announced the extension of Senomyx’s collaborative agreement with Firmenich SA regarding novel flavors that provide a cooling taste effect for an additional two years. Taste tests are being conducted with promising new cooling flavors. Firmenich has agreed to pay Senomyx incremental research fees, and Senomyx is also eligible to receive specified payments upon the achievement of milestones, as well as royalties based on products that incorporate novel flavors developed under the collaboration. 
Announced that two novel Bitter Blockers received GRAS (Generally Recognized As Safe) regulatory designation allowing commercialization in the U.S. and numerous other countries. S6821 has activity against bitter tasting foods and beverages that include soy and whey proteins, menthol, caffeine, cocoa, and Rebaudioside A (stevia). S7958, a related bitter blocker with similar functionality, has alternative desirable physical properties that may be useful for a variety of applications.  
Announced the extension of Senomyx’s collaborative agreement with Firmenich SA regarding the S6973 sucrose enhancer to include commercial development for specific beverage applications and use in over-the-counter pharmaceutical products. Senomyx will receive an additional license fee, incremental milestone payments and minimum annual royalties, as well as royalties on sales of S6973 for use in the additional product categories. 
Announced that Senomyx and PepsiCo, the world’s second-largest food and beverage business, entered into a four-year collaborative agreement related to Senomyx’s sweet-taste technology. The collaboration will focus on the discovery, development and commercialization of sweet enhancers and natural high-potency sweeteners. Senomyx will receive an upfront payment of $30 million from PepsiCo, $7.5 million of which was paid previously. Senomyx also will be entitled to $32 million in committed research and development payments, milestone payments, and royalty payments.  
Announced that that the European Food Safety Authority (EFSA) has provided a ‘favorable opinion’ for Senomyx’s Savory Flavor Ingredients, S336 and S807, which means that no further evaluation is required. The successful conclusion of the evaluation is a key step toward receiving an approval to use these ingredients in the European Union. Final regulatory approval and commercialization in the EU is contingent upon the ingredients being included in the EFSA Union List, which EFSA has targeted for publication by the end of 2010.  
Announced that Senomyx has been included in the Russell 3000® Index following Russell Investments' reconstitution of its comprehensive set of U.S. and global equity indexes on June 25, 2010. Senomyx was also added to the Russell 2000® Index, a subset of the Russell 3000 composed of small-cap stocks.  
Announced the identification of the first Fructose Enhancers that demonstrate a statistically significant amplification of the sweet taste of fructose. This “taste proof-of-concept” is a key achievement for Senomyx because fructose is a major component of HFCS (high fructose corn syrup). HFCS is used widely in beverages and other large product categories. In addition, the Generally Recognized As Safe (GRAS) status for Senomyx’s S6973 Sucrose Enhancer was extended to instant coffee and tea, as well as imitation dairy products. Also, the Company has made considerable progress in the Bitter Blocker program since the beginning of the year, and development activities are underway for the S6821 and S0812 Bitter Blockers in preparation for future regulatory filings.  
Announced an underwritten public offering, led by Deutsche Bank Securities Inc., of 7,142,857 shares of SNMX common stock at $2.80 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $20 million.  
Announced that Firmenich SA has made a decision to proceed with commercial development of S6973, Senomyx’s sucrose (table sugar) enhancer that has demonstrated the ability to reduce up to 50% of the sugar in a variety of products while maintaining the taste of natural sugar. In conjunction with the decision, Senomyx will receive an additional $8 million license fee payment from Firmenich, bringing the total to $20 million in license fee payments associated with the Firmenich Sweet Enhancer collaboration. Senomyx will also receive additional payments from Firmenich for the achievement of milestones, as well as specified expense reimbursements.  
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