Firmenich To Acquire Senomyx

11/4/18

Firmenich is pleased to announce the completion of its acquisition of Senomyx, Inc., a global leader in taste innovation and expert in sweet, cooling and bitter solutions. Strengthening Firmenich's taste and nutrition capabilities, this acquisition adds to the Group's excellence in creating healthy and great tasting food, drink and oral care experiences for its customers.

Sentry Merger Sub, Inc., a wholly owned subsidiary of Firmenich Incorporated ("Purchaser"), has successfully completed its tender offer to purchase all of the outstanding shares of common stock of Senomyx (NASDAQ: SNMX), at a price of $1.50 per share, net to the seller in cash, without any interest thereon and less any applicable withholding taxes. The tender offer expired as scheduled at 12:00 midnight, New York City time, on November 2, 2018 (one minute after 11:59 p.m., New York City time, on November 1, 2018).

Computershare Trust Company, N.A., the depositary for the tender offer has advised Firmenich that, as of the expiration of the tender offer, approximately 40,713,815 shares of Senomyx common stock (not including 208,282 shares tendered by notice of guaranteed delivery for which shares have not yet been delivered), representing 82.9% of Senomyx's outstanding shares, were validly tendered and not validly withdrawn pursuant to the tender offer. As a result, the minimum condition of the tender offer, which generally requires that a majority of the shares of Senomyx common stock outstanding at the expiration of the tender offer be validly tendered and not withdrawn, has been satisfied, and Purchaser has accepted for payment and will promptly pay for all such tendered Senomyx shares (and any additional shares tendered pursuant to guaranteed delivery procedures unless actual delivery does not occur), in accordance with the terms of the tender offer.

Purchaser intends to complete the merger today in accordance with Section 251(h) of the General Corporation Law of the State of Delaware. As a result of the merger, each share of common stock of Senomyx not tendered in the tender offer (other than (i) treasury shares, (ii) shares held by Firmenich or any wholly owned subsidiary of Firmenich, (iii) shares held by Senomyx, and (iv) shares owned by Senomyx stockholders who have properly preserved their appraisal rights under Section 262 of the General Corporation Law of the State of Delaware) will be converted into the right to receive an amount in cash equal to $1.50 per share, net to the seller in cash, without any interest thereon and less any applicable withholding taxes (i.e., the same price per share that was paid in the tender offer).

As a result of the tender offer and the merger, Senomyx will become a wholly owned subsidiary of Firmenich and Senomyx common stock will cease trading on the NASDAQ Global Select Market.

About Firmenich

Firmenich is the world's largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895. Driven by its purpose to create positive emotions to enhance wellbeing, naturally, Firmenich has designed many of the world's best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. Firmenich had an annual turnover of 3.7 billion Swiss Francs at end June 2018. More information about Firmenich is available at www.firmenich.com.

About Senomyx

Senomyx discovers novel flavor ingredients and natural high intensity sweeteners that allow food and beverage companies to create better-for-you products. Under its direct sales program, Senomyx sells its Complimyx® brand flavor ingredients, Sweetmyx®, Savorymyx®, and Bittermyx®, to flavor companies for use in a wide variety of foods and beverages. In addition, Senomyx has partnerships with leading global food, beverage, and ingredient supply companies, which are currently marketing products that contain Senomyx's flavor ingredients. For more information, please visit www.senomyx.com.

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