US synthetic biotechnology ingredients firm Amyris – along with some of its US subsidiaries – has filed for bankruptcy and plans to sell its consumer brands to improve its liquidity, Reuters reported on 10 August.
Amyris specialises in modifying the DNA of yeast to produce cosmetic and health ingredients such as its sugarcane-derived alternative to shark liver oil squalene, Neossance Squalane emollient.
“Restructuring is intended to improve the company’s cost structure, capital structure and liquidity position while streamlining Amyris’ business portfolio to focus on its core competencies in R&D,” Reuters quoted Amyris as saying.
The company’s interests outside the USA was not included in the bankruptcy proceedings, the report said.
While marketing its consumer brands, Amyris would continue operating them, including through retail partners and the brands’ e-commerce platforms, Happi wrote on 11 August.
The company’s products include ingredients for cosmetics, flavours and ingredients and its range of consumer brands includes the Biossance skin care and Pipette baby care ranges.
To date, Amyris said it had developed and commercialised a total of 13 sustainable ingredients for use in products made by more than 3,000 top global brands. It has worked in partnership with companies including French cosmetics company L’Oréal and Japanese personal care firm Shiseido.
In May, Amyris completed a deal to license cosmetic ingredients, including Neossance Squalane, Neossance Hemisqualane and CleanScreen, to Swiss flavour, fragrance and cosmetic ingredients manufacturer Givaudan, the report said.
