Codexis completes obligations under R&D agreement with leading biopharmaceutical company

Enzyme developed with CodeEvolver technology for preclinical therapeutics program exceeds agreement requirements.

“We exceeded the performance criteria established for each phase of this collaboration and successfully engineered and delivered a protein for use in our partner’s preclinical development asset,” said Codexis President and CEO John Nicols. “It’s highly gratifying to report this high level of achievement in our first therapeutic development program with a major company in the biopharmaceutical industry.”

During the term of the agreement, Codexis has earned success fees, associated milestone payments and research and development service revenues. Codexis could receive additional modest annual license fees from this biopharmaceutical partner depending upon the partner’s election to use the developed enzyme.

“We have further demonstrated the CodeEvolver platform’s versatility with its use in the development of therapeutics and we look forward to performing similar protein engineering projects for other companies in the biopharmaceuticals industry,” added Nicols. “Our ability to exceed the parameters in this preclinical therapeutics program also serves as another important validation of our strategy to use the CodeEvolver technology to develop our own pipeline of biologic drug candidates.”