Codexis Sets Up Two Pharma Deals

Codexis has licensed its enzyme engineering technology to Merck & Co., a collaborator of eight years. In return, Codexis will get $5 million up front and up to $13 million over 15 to 24 months as it transfers the technology to a Merck site. If Merck uses enzymes developed with the technology to produce drug ingredients, Codexis can receive up to $15 million per product. In July 2014, Codexis licensed its technology to GlaxoSmithKline for $25 million. Separately, for $1 million up front and R&D payments, Codexis will develop an enzyme for an undisclosed biotherapeutic firm to use in preclinical development.