Codexis Announces Completion of CodeEvolver® License Technology Transfer with Global Pharmaceutical Leader
Codexis, Inc. (CDXS) announced the successful completion of its CodeEvolver® platform technology transfer to Novartis Pharma AG. This collaboration, initiated in May 2019, allows Novartis to utilize CodeEvolver® for developing high-performance enzymes in pharmaceutical manufacturing. The new enzymes promise reduced capital requirements, higher yields, and lower energy usage compared to conventional chemistry methods. Codexis has now achieved three similar collaborations, with this being the first conducted virtually due to the pandemic's challenges.
- Successful completion of CodeEvolver® transfer to Novartis.
- Enzymes developed can reduce capital requirements and increase yield.
- First virtual technology transfer demonstrates operational resilience.
- Dependence on a limited number of products and customers could impact business.
- Risks related to licensees' market reception of products.
REDWOOD CITY, Calif., July 14, 2021 (GLOBE NEWSWIRE) -- Codexis, Inc. (Nasdaq: CDXS), a leading enzyme engineering company enabling the promise of synthetic biology, announced the completion of the CodeEvolver® platform technology transfer with Novartis Pharma AG (“Novartis”) today. In May 2019, the two companies signed a platform technology transfer and license agreement, under which Novartis has a non-exclusive license to CodeEvolver® to develop novel performance enzymes for use in the manufacture of pharmaceutical products.
“We are pleased to have completed the CodeEvolver® installation for Novartis, enabling our long-time customer to leverage Codexis’ proprietary enzyme engineering technology,” said Stefan Lutz, Senior Vice President of Research of Codexis. “Compared to using traditional, non-enzymatic chemistry, CodeEvolver®-improved enzymes and processes can reduce capital requirements, and enable higher yielding processes, with reduced energy usage and lower waste generation. This is our third licensing collaboration for a customer to bring CodeEvolver® technology in-house, but the first one we have had to implement virtually; I’m extremely proud of how our teams collaborated to ensure a successful and efficient technology transfer, despite the challenges of the pandemic.”
About Codexis
Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver® platform to discover and develop novel, high performance enzymes and novel biotherapeutics. Codexis enzymes have applications in the sustainable manufacturing of pharmaceuticals, food, and industrial products; the creation of the next generation of life science tools; and as biologic therapeutics and in gene therapy. The Company’s unique enzymes drive improvements such as reduced energy usage, waste generation and capital utilization, higher yields, higher fidelity diagnostics, and more efficacious therapeutics. Codexis enzymes enable the promise of synthetic biology to improve the health of people and the planet. For more information, visit www.codexis.com.
Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Codexis, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Codexis’ control and that could materially affect actual results. Factors that could materially affect actual results include, among others: Codexis’ dependence on its licensees and collaborators; Codexis’ dependence on a limited number of products and customers and potential adverse effects to Codexis’ business if its customers’ products are not received well in the markets. Additional information about factors that could materially affect actual results can be found in Codexis’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 1, 2021, and in Codexis’ Quarterly Report on Form 10-Q filed with the SEC on May 7, 2021, including under the caption “Risk Factors,” and in Codexis’ other periodic reports filed with the SEC. Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
Investor Relations Contact:
Argot Partners
Stephanie Marks/Carrie McKim
Codexis@argotpartners.com
(212) 600-1902
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