REDWOOD CITY, Calif., May 16, 2011 /PRNewswire/ -- Codexis, Inc. (Nasdaq: CDXS) today announced the continued expansion of its collaboration with Teva Pharmaceutical Industries Ltd., the world's largest generic drug manufacturer. Codexis has now successfully completed technology transfer of custom biocatalysts for manufacture of three undisclosed pharmaceutical products to Teva. Two products have been transferred to pilot manufacturing and a third to full scale commercial manufacturing. The original agreements covering development of these processes were signed in 2009.
Teva is using Codexis biocatalysis technology to reengineer key process steps in the manufacture of the covered generic products. Codexis develops proprietary custom biocatalysts which can reduce pharmaceutical manufacturing development time and costs. Codexis technology is used by leading drug and chemical companies worldwide. Financial terms were not disclosed.
"These are significant achievements in our relationship with Teva," said Joseph Sarret, M.D., Senior Vice President and Chief Business Officer. "We are developing custom biocatalytic manufacturing processes for four Teva products, and the transfer to pilot and commercial manufacturing is important recognition of the cost savings and value-added technology that Codexis brings to the highly competitive generics marketplace."
Codexis is a clean technology company. Codexis develops optimized biocatalysts that make industrial processes faster, cleaner and more efficient. Codexis’ technology is commercialized with leading global pharmaceutical companies and in development for advanced biofuels with Shell and carbon capture. Other potential markets for the company’s biocatalyst-enabled solutions include chemicals and water treatment.
This press release contains forward-looking statements relating to Codexis development of biocatalysts for use in creating manufacturing processes for certain Teva products. 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 our control and that could materially affect actual results. Factors that could materially affect actual results can be found in Codexis Quarterly Report on Form 10-Q dated May 6, 2011 including under the caption "Risk Factors." Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
Investors: Henk Adriaenssens, email@example.com, 650-421-8331
|SOURCE Codexis, Inc.|
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