Codexis, GSK Partner in Biocatalysts, Protein Engineering
Codexis, Inc. a protein engineering and biocatalyst company, has completed of the third and final Wave in the transfer of its proprietary CodeEvolver protein engineering platform technology to GlaxoSmithKline (GSK). Codexis expects to receive a $7.5 million payment from GSK for completion of this milestone in the second quarter of 2016.
The agreement grants GSK a license to use Codexis' CodeEvolverÂ® platform technology to develop novel enzymes for use in the manufacture of GSK's pharmaceutical and health care products. Codexis has the potential to receive numerous additional contingent milestone payments under the agreement with GSK that range from $5.75 million to $38.5 million per project based on GSK's successful application of the licensed technology. In addition, Codexis will be eligible to receive royalties based on net sales, if any, of a limited number of products that can be developed by GSK using Codexis' CodeEvolver protein engineering platform technology.
Codexis previously received a $6 million upfront payment upon announcing the CodeEvolver technology collaboration and license agreement with GSK in July 2014, and a total of $11.5 million in milestone payments from GSK for the successful completion of Waves 1 and 2 of the technology transfer. The CodeEvolverÂ® platform technology is operational at a GSK R&D facility in Pennsylvania.
Codexis' proprietary CodeEvolver protein engineering platform enables the rapid development of custom-designed enzymes that are highly optimized for a specific function. The CodeEvolver platform is comprised of proprietary methods for the optimization of proteins through the design and generation of diverse genetic libraries, automated screening techniques, algorithms for the interpretation of screening data and predictive modelling. The Codexis CodeEvolver platform technology is covered by more than 250 issued patents and pending patent applications worldwide.