Codexis Licenses Genomics Life Science Enzyme Portfolio to Alphazyme LLC, part of Maravai LifeSciences
Codexis, Inc. (NASDAQ: CDXS) has entered into a non-exclusive commercial and manufacturing license agreement with Alphazyme , part of Maravai LifeSciences, for multiple enzymes in Codexis' life science enzyme portfolio. The agreement includes licenses for HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase and other enzymes for genomics and diagnostics applications.
Codexis will receive sales-based royalties under the agreement. This transaction aligns with Codexis' strategy to divest non-core assets following its strategic shift announced in July 2023. The company aims to focus on maximizing near-term commercial opportunities, including growing its Pharmaceutical Manufacturing business, increasing adoption of dsRNA ligase, and developing the ECO Synthesis™ Innovation Lab.
Codexis expects to achieve key milestones for the ECO Synthesis™ platform this fiscal year, deliver double-digit product revenue growth, and maintain a path to positive cash flow around the end of 2026.
Codexis, Inc. (NASDAQ: CDXS) ha stipulato un accordo di licenza commerciale e di produzione non esclusivo con Alphazyme, parte di Maravai LifeSciences, per diversi enzimi nel portafoglio di enzimi per le scienze della vita di Codexis. L'accordo include licenze per il HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase e altri enzimi per applicazioni genomiche e diagnostiche.
Codexis riceverà royalties basate sulle vendite in base all'accordo. Questa transazione è in linea con la strategia di Codexis di dismettere beni non core dopo il cambiamento strategico annunciato a luglio 2023. L'azienda mira a concentrarsi sulla massimizzazione delle opportunità commerciali a breve termine, incluso la crescita della propria attività di produzione farmaceutica, l'aumento dell'adozione della ligasi dsRNA e lo sviluppo dell'ECO Synthesis™ Innovation Lab.
Codexis si aspetta di raggiungere obiettivi chiave per la piattaforma ECO Synthesis™ quest'anno fiscale, di ottenere una crescita a doppia cifra dei ricavi da prodotto e di mantenere un percorso verso un flusso di cassa positivo entro la fine del 2026.
Codexis, Inc. (NASDAQ: CDXS) ha celebrado un acuerdo de licencia comercial y de fabricación no exclusivo con Alphazyme, parte de Maravai LifeSciences, para múltiples enzimas en el portafolio de enzimas de ciencias de la vida de Codexis. El acuerdo incluye licencias para HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase y otras enzimas para aplicaciones genómicas y de diagnóstico.
Codexis recibirá regalías basadas en ventas bajo el acuerdo. Esta transacción se alinea con la estrategia de Codexis de desinvertir activos no estratégicos tras el cambio estratégico anunciado en julio de 2023. La empresa busca centrarse en maximizar oportunidades comerciales a corto plazo, incluyendo el crecimiento de su negocio de fabricación farmacéutica, aumentando la adopción de ligasa dsRNA y desarrollando el ECO Synthesis™ Innovation Lab.
Codexis espera alcanzar hitos clave para la plataforma ECO Synthesis™ en este año fiscal, lograr un crecimiento de ingresos por productos de dos dígitos y mantener un camino hacia un flujo de caja positivo hacia finales de 2026.
Codexis, Inc. (NASDAQ: CDXS)는 Maravai LifeSciences의 일부인 Alphazyme와 비독점 상업 및 제조 라이선스 계약을 체결했습니다. 이 계약은 Codexis의 생명 과학 효소 포트폴리오에 있는 여러 효소에 대한 것입니다. 계약에는 HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase 및 유전체 분석 및 진단 응용 프로그램을 위한 기타 효소에 대한 라이선스가 포함되어 있습니다.
Codexis는 이 계약에 따라 판매 기반 로열티를 받을 것입니다. 이 거래는 2023년 7월에 발표된 전략적 전환 이후 Codexis의 비핵심 자산 매각 전략과 일치합니다. 회사는 제약 제조 사업 성장, dsRNA 리가제 채택 증가, ECO Synthesis™ 혁신 연구소 개발 등 단기 상업적 기회 극대화에 집중하는 것을 목표로 하고 있습니다.
Codexis는 올해 회계 연도에 ECO Synthesis™ 플랫폼의 주요 이정표를 달성하고, 두 자릿수의 제품 수익 성장을 실현하며, 2026년 말까지 긍정적인 현금 흐름을 유지할 것을 예상하고 있습니다.
Codexis, Inc. (NASDAQ: CDXS) a conclu un accord de licence commerciale et de fabrication non exclusif avec Alphazyme, qui fait partie de Maravai LifeSciences, pour plusieurs enzymes du portefeuille d'enzymes de sciences de la vie de Codexis. L'accord inclut des licences pour HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase et d'autres enzymes pour des applications génomiques et diagnostiques.
Codexis recevra des royalties basées sur les ventes dans le cadre de l'accord. Cette transaction s'inscrit dans la stratégie de Codexis de céder des actifs non essentiels suite à un changement stratégique annoncé en juillet 2023. L'entreprise vise à maximiser les opportunités commerciales à court terme, notamment en développant son activité de fabrication pharmaceutique, en augmentant l'adoption de la ligase dsRNA et en développant le laboratoire d'innovation ECO Synthesis™.
Codexis prévoit d'atteindre des jalons clés pour la plateforme ECO Synthesis™ au cours de cet exercice, de réaliser une croissance à deux chiffres des revenus produits et de maintenir une voie vers un flux de trésorerie positif d'ici fin 2026.
Codexis, Inc. (NASDAQ: CDXS) hat einen nicht-exklusiven Lizenzvertrag für kommerzielle und Herstellungszwecke mit Alphazyme, einem Teil von Maravai LifeSciences, geschlossen, der mehrere Enzyme im Enzymportfolio von Codexis für die Lebenswissenschaften umfasst. Der Vertrag beinhaltet Lizenzen für HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase und andere Enzyme für genomische und diagnostische Anwendungen.
Codexis erhält im Rahmen des Vertrags verkaufsbasierte Lizenzgebühren. Diese Transaktion passt zur Strategie von Codexis, nicht zum Kerngeschäft gehörende Vermögenswerte abzustoßen, die im Rahmen einer strategischen Neuausrichtung im Juli 2023 angekündigt wurde. Das Unternehmen möchte sich darauf konzentrieren, kurzfristige kommerzielle Chancen zu maximieren, einschließlich des Wachstums seines Geschäfts mit pharmazeutischer Herstellung, der Förderung der Akzeptanz von dsRNA-Ligase und der Entwicklung des ECO Synthesis™ Innovation Lab.
Codexis erwartet, in diesem Geschäftsjahr Schlüsselmeilensteine für die ECO Synthesis™-Plattform zu erreichen, ein doppelt prozentuales Umsatzwachstum zu erzielen und einen Weg zu positivem Cashflow bis Ende 2026 beizubehalten.
- Non-exclusive license agreement with Alphazyme for multiple enzymes in Codexis' life science portfolio
- Codexis to receive sales-based royalties from the agreement
- Expected double-digit product revenue growth
- Anticipated positive cash flow around the end of 2026
- Strategic focus on growing Pharmaceutical Manufacturing business and ECO Synthesis™ platform
- Divestment of non-core assets following strategic shift in July 2023
Insights
This licensing agreement represents a strategic move for Codexis, aligning with their previously announced shift in focus. By partnering with Alphazyme, Codexis can monetize its non-core assets while maintaining its strategic direction. The deal includes HiFi DNA Polymerase, HiTemp Reverse Transcriptase and HiRev Isothermal Polymerase, which are valuable tools in genomics and diagnostics.
The agreement's structure, involving sales-based royalties, provides Codexis with a potential ongoing revenue stream without the burden of direct sales and marketing efforts. This aligns well with their goal of achieving double-digit product revenue growth and moving towards positive cash flow by the end of 2026.
For investors, this deal demonstrates Codexis' ability to extract value from its intellectual property while streamlining operations. It's a positive step towards financial stability and focus on core growth areas like Pharmaceutical Manufacturing and the ECO Synthesis™ platform. However, the long-term impact will depend on Alphazyme's success in commercializing these enzymes and the resulting royalty payments.
This licensing agreement is a strategic financial move for Codexis. While specific financial terms aren't disclosed, the deal structure with sales-based royalties provides potential for recurring revenue without ongoing operational costs. This aligns with Codexis' goal of maintaining a path to positive cash flow around the end of 2026.
The transaction allows Codexis to divest non-core assets while focusing on higher-growth areas like Pharmaceutical Manufacturing and the ECO Synthesis™ platform. This strategic shift could improve operational efficiency and resource allocation.
Investors should note the company's projection of double-digit product revenue growth. While promising, it's important to monitor upcoming financial reports to verify this trajectory. The success of this deal and Codexis' overall strategy will be reflected in future revenue figures, particularly the contribution from royalties and growth in core business segments.
Non-exclusive license includes HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase and other enzymes for genomics and diagnostic applications
REDWOOD CITY, Calif., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced it has entered into a non-exclusive commercial and manufacturing license agreement with Alphazyme LLC, part of Maravai LifeSciences, for multiple enzymes in Codexis’ life science enzyme portfolio. The agreement includes licenses for the HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase and other enzymes that were in development directed towards genomics and diagnostics applications prior to the Company’s strategic shift announced in July 2023. Under the terms of the agreement, Codexis is eligible to receive sales-based royalties.
“As our manufacturing partner for the past three years—and with an existing genomics enzyme portfolio and sales force —Alphazyme is the natural choice to extend our commercial reach into this segment. We anticipate a smooth transition for our customers as there is no change in manufacturing supply and many of our customers are already familiar with the Alphazyme team,” said Kevin Norrett, MBA, Chief Operating Officer at Codexis. “This transaction enables Codexis to maintain its focus on maximizing our near-term commercial opportunities and strategic priorities. This includes the growth of our Pharmaceutical Manufacturing business, increasing commercial adoption of the dsRNA ligase, and the build-out of our ECO Synthesis™ Innovation Lab to support manufacturing process development for our customers’ preclinical siRNA assets. We remain on track to achieve key milestones for the ECO Synthesis™ platform this fiscal year, while delivering double-digit product revenue growth and maintaining a path to positive cash flow around the end of 2026.”
Alphazyme is a premier partner for industrial-scale molecular biology enzymes. Alphazyme enthusiastically collaborates with manufacturers of nucleic acid synthesis and detection platforms to produce affordable, custom enzyme formulations of the highest quality that meet the specifications of the rapidly expanding markets for custom DNA and RNA molecules, genomic medicines and genetic testing. “The Codexis and Alphazyme relationship has been strong for many years. We are excited to take on Codexis’ portfolio of high-performing life science and diagnostic enzymes and be a part of their continued success,” said Chad Decker, Vice President and General Manager of Alphazyme. This new collaboration will leverage the experience and industry knowledge of the Alphazyme team to enhance the commercialization of Codexis’ portfolio of life science and diagnostic enzymes.
This license agreement marks another transaction in which Codexis is executing on its strategy to divest the Company’s non-core assets following its strategic shift to focus on the growth of its Pharmaceutical Manufacturing business and Enzyme Catalyzed Oligonucleotide (ECO) Synthesis™ manufacturing platform.
About Codexis
Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of proteins. Codexis enzymes solve for real-world challenges associated with small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit www.codexis.com.
About the ECO Synthesis™ Manufacturing Platform
Codexis’ proprietary Enzyme Catalyzed Oligonucleotide (ECO) Synthesis™ manufacturing platform is being designed to address scalability and cost limitations of traditional phosphoramidite chemistry by potentially enabling the commercial-scale manufacture of RNAi therapeutics through an enzymatic route. The Company presented groundbreaking data at the TIDES USA 2024 annual meeting demonstrating the enzymatic synthesis of a full-length sense strand of the oligonucleotide lumasiran, a commercially available siRNA therapeutic, as well as shorter sense strand fragments of a second siRNA therapeutic asset, givosiran. The data demonstrate that Codexis consistently achieved coupling efficiency greater than
About Alphazyme
Alphazyme LLC was founded by enzyme development and production experts with a track record of success and a mission to be the world's premier partner for custom molecular biology enzymes produced at industrial scale. Alphazyme collaborates with the manufacturers of nucleic acid synthesis and detection platforms to produce affordable enzymes of the highest quality that meet the requirements of the growing markets for custom DNA and RNA molecules, genomic medicines and genetic analysis. The Alphazyme team values collaboration, customer success and continuous improvement. For more information, www.alpha-zyme.com.
About Maravai LifeSciences
Maravai is a leading life sciences company providing critical products to enable the development of drug therapies, diagnostics, and novel vaccines and to support research on human diseases. Maravai's companies are leaders in providing products and services in the fields of nucleic acid synthesis and biologics safety testing to many of the world's leading biopharmaceutical, vaccine, diagnostics, and cell and gene therapies companies. For more information, visit www.maravai.com.
Codexis Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “suggest,” “target,” “on track,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. To the extent that statements contained in this press release are not descriptions of historical facts, they are forward-looking statements reflecting the current beliefs and expectations of management, including but not limited to the potential receipt by Codexis of sales-based royalties pursuant to its license agreement with Alphazyme LLC; the successful transition of manufacturing and sales of Codexis’ HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase and other genomic enzymes to Alphazyme and the timing on which Codexis’ life science and diagnostic enzymes are introduced on the market; Codexis’ expectations regarding the growth of its Pharmaceutical Manufacturing business and commercial adoption of its dsRNA ligase; the build-out of Codexis’ planned ECO Synthesis™ Innovation Lab; Codexis’ expectations regarding product revenue growth, as well as its ability to achieve positive cash flow around the end of 2026; the potential of Codexis’ ECO Synthesis™ manufacturing platform, including its ability to drive improvements relative to traditional chemical synthesis related to scalability, cost limitations, waste and overall economics; and other anticipated technical and commercial milestones related to the ECO Synthesis™ platform, and public announcements related thereto. Factors that could materially affect actual results include, among others: Codexis’ dependence on its licensees and collaborators; if any of its collaborators terminate their development programs under their respective license agreements with Codexis; Codexis may need additional capital in the future in order to expand its business; if Codexis is unable to successfully develop new technology such as its ECO Synthesis™ manufacturing platform and dsRNA ligase; 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; whether the end markets for Codexis’ customers’ products develop and remain viable; if Codexis is unable to develop and commercialize new products for its target markets; if competitors and potential competitors who have greater resources and experience than Codexis develop products and technologies that make Codexis’ products and technologies obsolete; Codexis’ ability to comply with debt covenants under its loan facility; if Codexis is unable to accurately forecast financial and operational performance; and market and economic conditions may negatively impact Codexis' business, financial condition and share price. 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 February 28, 2024 and in Codexis’ Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024, 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.
Codexis: For More Information
Investor Contact
Carrie McKim
(336) 608-9706
ir@codexis.com
Media Contact
Lauren Musto
(650) 412-8205
media@codexis.com
Alphazyme: For More Information
Investor Contact:
Deb Hart
(858) 988-5917
ir@maravai.com
Media Contact:
Liz Robinson
(312) 997-2436
lrobinson@cglife.com
FAQ
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