REDWOOD CITY, Calif., Dec. 1 /PRNewswire/ -- Codexis, Inc. today announced an expansion of its relationship and the signing of its second agreement this year with Teva Pharmaceutical Industries Ltd., the world's largest generic drug manufacturer. The new agreement covers three undisclosed pharmaceutical products. Codexis announced an earlier agreement with Teva on January 7.
Under the new agreement, Teva will use Codexis biocatalysis technology for key process steps in the manufacture of the covered generic products. Codexis develops proprietary custom biocatalysts which contribute to lower pharmaceutical process development and manufacturing costs. The company's technology is in use by leading drug companies worldwide. Financial terms were not disclosed.
"Expansion of our relationship with Teva from one to four products in under a year demonstrates the value of Codexis technology in today's competitive pharmaceuticals market," said Alan Shaw, Ph.D, Codexis President and Chief Executive Officer. "We are pleased to broaden our relationship with this major pharmaceuticals company."
Codexis, Inc. is a clean technology company. The company is a leading provider of proprietary, optimized biocatalytic solutions that enable the manufacture of products cost-effectively, at commercial scale and with an environmentally safe process. It has demonstrated commercial success with its biocatalysts in the pharmaceutical industry, and is developing optimized biocatalysts for the biofuels market with Shell Oil. The company is also using its technology platform to pursue biocatalytic solutions in other bioindustrial markets, including carbon management, water treatment and chemicals. For more information, visit www.codexis.com.
SOURCE Codexis, Inc.
|SOURCE Codexis, Inc.|
Copyright©2009 PR Newswire.
All rights reserved