Redpoint Bio Signs Research & Technology Development Agreement with The Coca-Cola Company
EWING, N.J. Redpoint Bio Corp., a company that develops ingredients to improve the taste of pharmaceutical, food and beverage products, on Friday announced that it has signed a research agreement with The Coca-Cola Company to develop proprietary technology for use in non-alcoholic beverages.
Under terms of the one-year agreement, for a six-month period beginning on the effective date of the agreement, Redpoint has granted Coca-Cola an exclusive right to negotiate to extend and expand the collaboration into a broader, multi-year research, development and commercialization program.
“We believe this agreement is a further endorsement of Redpoint Bio’s unique capabilities for the discovery and development of beverage technology. We look forward to working with The Coca-Cola Company team,” said Ray Salemme, chief executive officer of Redpoint Bio.
For more information, see the related 8-K filing by Redpoint Bio with the Securities and Exchange Commission.
Peppermint-flavored Peeps are holiday stars
BETHLEHEM, Pa. Just Born recently introduced Peeps Marshmallow Peppermint-Flavored Stars.
The Peeps peppermint stars, the company’s first peppermint-flavored Peeps, are wrapped in red and white stripes and adorned with red sparkles. They are available in a nine-count package for a suggested 99 cents.
“For years consumers have requested a peppermint-flavored Peeps product,” said Kathy Bassininski, Just Born’s brand director. “This item delivers a perfect blend of peppermint taste and marshmallow texture in a popular symbol of the holiday season.”
Also available this holiday season are Peeps trees and Peeps snowmen, which retail for 59 cents for a three-count package and 99 cents for a nine-count package; Peeps cutouts, a six-count cookie-flavored item retail for 99 cents; and Peeps decorating kits, six-count holiday kits that retail for $1.99.
Coca-Cola BOD elects Jacob Wallenberg as director
ATLANTA The Coca-Cola Co. Board of Directors on Thursday elected Jacob Wallenberg as a director of the company, effective Jan. 1, 2008. Wallenberg currently is chairman of the Board of Investor AB, the largest industrial holding company in the Nordic region. He also serves as vice-chairman of Skandinaviska Enskilda Banken AB and is a board member of The Nobel Foundation, The Stockholm School of Economics and The Knut and Alice Wallenberg Foundation.
From 1990 to 1992, Wallenberg was deputy managing director of Investor AB. After rejoining the SEB Group in 1993, Mr. Wallenberg was appointed chief executive officer in 1997 and was chairman of the board from 1998 to 2005. As part of his election, Wallenberg was appointed to the public issues and diversity review committee and the committee on directors and corporate governance.
The Board also elected William D. Hawkins III as vice president of the Company and appointed him general tax counsel. Hawkins has worked in the Company’s Office of General Tax Counsel since 1998 and will now lead the Company’s tax policy and strategy team. Prior to joining The Coca-Cola Co., Hawkins was a partner with the law firms of White & Case and, later, McClure, Trotter & Mentz in Washington, D.C.