REDWOOD CITY, Calif. and FARGO, N.D., Dec. 13, 2023 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced it has entered into an agreement with Aldevron, a global leader in the custom development and manufacture of plasmid DNA, RNA and proteins for the biotech industry, whereby Aldevron will acquire a global exclusive license to Codexis' Codex® HiCap RNA Polymerase. Under the terms of the deal, Aldevron will receive global manufacturing and commercialization rights to the Codex® HiCap RNA Polymerase and Codexis will receive payments for near-term technical milestones, along with commercial milestones and sales-based royalties. Codexis and Aldevron will work together to ensure a smooth changeover for customers during a transitional period.
"We're excited to partner with Aldevron, a market-leading mRNA manufacturer, to increase our commercial penetration with a path to a GMP-grade version of our Codex® HiCap RNA Polymerase. This should enable the efficient manufacture of more mRNA-based therapeutics, potentially impacting millions of patients," said Kevin Norrett, MBA, Chief Operating Officer of Codexis. "The execution of this deal demonstrates our ability to create value from game-changing enzymes in our portfolio by getting them into the hands of the right collaborators, and we look forward to building a long-term partnership with Aldevron and the broader Danaher family of companies."
"Aldevron has long been a provider of research to cGMP proteins, mRNA and pDNA to enable vaccine development, and cell and gene therapy. We are thrilled with the opportunity to exclusively license this differentiating Codex® HiCap RNA Polymerase which demonstrates Aldevron's commitment to mRNA as a therapeutic modality," said Tom Foti, GM of Aldevron's Protein Business Unit. "The T7 RNA Polymerase is the critical enzyme in the manufacturing process, making it a vital asset in support of our mRNA manufacturing service offering. This license is a strategic investment in Aldevron's continued development our of mRNA ecosystem, ultimately benefiting our clients and the patients they serve."
About Codex® HiCap RNA Polymerase
Codex® HiCap RNA Polymerase is a uniquely engineered, co-transcriptional capping RNA polymerase that enables researchers to produce synthetic mRNA at the high yield and purity that today's mRNA-based vaccines and therapeutics demand. It incorporates commercially available cap analogs more efficiently than wild-type T7 (WT T7) RNA polymerase, generates less undesirable double-stranded RNA (dsRNA) byproduct and provides efficient in vitro transcription (IVT).
About Aldevron
Aldevron is a premier manufacturing partner, producing high-quality plasmid DNA, RNA, proteins, enzymes, and other key components for the development of vaccines, gene and cell therapies, immunotherapies, and other treatments. Headquartered in Fargo, North Dakota, and as a part of the Danaher Corporation (NYSE: DHR) family of global science and technology companies, Aldevron supports thousands of scientists who are developing revolutionary, lifesaving treatments for millions of people. To learn more about how Aldevron is advancing biological science, visit www.aldevron.com/about-us.
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 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.
Codexis Forward-Looking Statements
This press release may contain 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 statements regarding and the potential achievement of technical and commercial milestones under Codexis' exclusive licensing agreement with Aldevron; the potential benefits of the parties' collaboration, including the anticipated impacts thereof on Codexis' commercial penetration, mRNA manufacturing and on patients dependent on mRNA-based therapeutics; and Codexis' expectations regarding the development of a GMP-grade version of its Codex® HiCap RNA Polymerase. 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; 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 platform and dsRNA; 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; 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; 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 27, 2023 and in Codexis' Quarterly Report on Form 10-Q filed with the SEC on November 3, 2023, 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.
For More Information
Codexis Contacts
Investor Contact
Carrie McKim
(336) 608-9706
ir@codexis.com
Media Contact
Lauren Musto
(781) 572-1147
media@codexis.com
Aldevron Contact
Media Contact
Ellen Shafer
(701) 551-8704
Ellen.shafer@aldevron.com
