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Kent Snyder

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We now have seven product discovery and development collaborations with five of the world's foremost packaged food and beverage companies: Cadbury Schweppes, Campbell Soup, Coca-Cola, Kraft Foods, and Nestle.

We are extremely pleased to extend our collaboration with Campbell, our long-standing partner and a leading global provider of soup, vegetable-based beverages, and other premium quality foods.

We believe that the extensions of our existing agreements and the two new collaborations that we entered into during 2005 provide further validation of our technology and commercial potential. Our goal is to continue to leverage our discovery and development capabilities by establishing additional collaborations with market leading companies seeking to create a competitive advantage for their products.

In February, we announced the extension of the collaborative research phase of our research and license agreement with Campbell Soup for an additional three years to March 2009. We appreciate continuing our work with Campbell, one of our long-standing partners and a leading global provider of soup, vegetable-based beverages, and other premium quality foods.

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