Amyris Signs Stock Buyback Agreement With Bill & Melinda Gates Foundation

Amyris, Inc. AMRS said it signed a Stock Buyback Agreement with Bill & Melinda Gates Foundation for $5 million. The company said the investment is to fund a program to further cut down the costs of one of the globe's leading malaria treatments so that no children has the right to go without treatment for malaria.

Amrys President and CEO, John Melo, said, "We are very pleased with the Gates Foundation's commitment to eradicating Malaria and are happy to be a part of this effort". He added, "We believe in a world where no child should go untreated and that no parent should have to make a choice between treating their child or feeding their family. Lower cost and sustainably-produced artemisinin is a key part of the spectrum of solutions that can help eradicate this disease from our planet."

The company's CEO stated further, "It is only through the work of public-private partnerships that these solutions can occur. With an advanced and proven platform, Amyris' technology can, among other things, be used to accelerate drug discovery cost effectively while improving the global supply of important pharmaceuticals. And, we believe it is also poised to help leading pharmaceutical companies respond rapidly to pandemic crises, making the world a safer place for all of us."

On Monday, the stock traded higher by 0.61 percent.