Medindia LOGIN REGISTER
Medindia
Advertisement

Codexis, Dyadic in Enzyme Production System License Agreement

Tuesday, November 18, 2008 General News
Advertisement
REDWOOD CITY, Calif. and JUPITER, Fla., Nov. 17 Codexis,Inc. and Dyadic International (USA), Inc. today announced a license agreementcovering use of Dyadic's C1 expression system for large-scale production ofenzymes in certain fields including biofuels and chemical and pharmaceuticalintermediate production. The agreement includes an upfront payment by Codexisof $10 million provided that certain performance criteria are satisfied.Additional financial terms were not disclosed.
Advertisement

"Codexis develops improved biocatalysts which are solving specificindustrial challenges for global leaders in pharmaceuticals andbioindustrials. We are developing advanced biofuels from non-food biomasssources, and we have other programs aimed at addressing critical environmentalissues," said Alan Shaw, Ph.D., Codexis President and Chief Executive Officer."The Dyadic production system expands our technology platform, providingimproved capability and efficiency in enzyme production across many Codexisprograms."
Advertisement

"Dyadic's C1 expression system enables the cost-effective manufacture ofindustrial enzymes at commercial scale," said Mark Emalfarb, Dyadic Founderand Chief Executive Officer. "We anticipate our C1 System may help overcomelimitations of current techniques, and can be an important tool as Codexisdevelops new fuels and other clean technology products."

About Codexis

Codexis, Inc. is a clean technology company. Codexis developsbiocatalysts used to create powerful, efficient and cleaner chemistry-basedmanufacturing processes in the life sciences, bioindustrial and chemicalmarketplaces. Codexis technology is used by global pharmaceutical companiesfor cost-effective manufacturing of human therapeutics and in the energyindustry to enable advanced biofuels. Future commercial applications includecarbon management, water treatment and chemical manufacturing. For moreinformation, visit http://www.codexis.com.

About Dyadic

Dyadic International, Inc. is engaged in the development, manufacture andsale of biological products using a number of proprietary fungal strains toproduce enzymes and other biomaterials, principally focused on a system forprotein production based on the patented Chrysosporium lucknowense fungus,known as C1.

Dyadic is applying its technologies for the production of enzymes forvarious industrial applications such as pulp and paper, food and feed, and isworking on diminishing its reliance of enzyme sales into the textile industry.Dyadic uses, for itself and others, its patented and proprietary technologiesto conduct research and development activities for the discovery, development,and manufacture of products and enabling solutions to the bioenergy,industrial enzyme and pharmaceutical industries.

Cautionary Statement for Forward-Looking Statements

Certain statements made in this press release may be considered"forward-looking statements." These forward-looking statements are based uponcurrent expectations and involve a number of assumptions, risks anduncertainties that could cause our actual results, performance or achievementsto be materially different from such forward-looking statements. In view ofsuch risks and uncertainties, investors and stockholders should not placeundue reliance on our forward-looking statements. Such statements speak onlyas of the date of this release, and we undertake no obligation to update anyforward looking statements made herein.Contact: Codexis: Lyn Christenson, [email protected], 650-421-8144, http://www.codexis.com, or Justin Jackson, [email protected], Burns McClellan, 212-213-0006 Dyadic: Richard Jundzil, [email protected], 561-743-8333. http://www.dyadic.com.

SOURCE Codexis, Inc.
Sponsored Post and Backlink Submission


Latest Press Release on General News

This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close