Amyris Seals Deal Worth Up to $35 Mln With DARPA

Amyris Inc. (AMRS) reported Wednesday morning it sealed a multi-year agreement worth up to $35 million with the Defense Advanced Research Projects Agency (DARPA) to develop new technologies that will reduce the time and cost to bring new molecules to market.

The renewable products company noted it selected five specialized subcontractors to help develop the new technologies.

Amyris and DARPA are aiming to reduce the time to market for any new molecule by at least 10-fold in both time and cost.

AMRS shares were inactive pre-market after closing Tuesday in the lower half of the 52-week range of $1.51 to $4.12.