Senomyx nose a good thing when it smells it. The company -- through collaborations with the likes of Kraft, Nestlé, and Coca-Cola -- hopes to take the flavor and fragrance industry to a whole new level. Senomyx has identified human receptor genes related to the detection of smells and tastes, and, using this genetic research, the company is developing sweet, salty, and savory flavor enhancers and bitter taste modulators. Potential products include agents that can block bitter tastes in coffee and make low-sodium snacks taste salty. The company also works with Japan's largest flavors company, Ajinomoto, opening up the Asian market for Senomyx.