Codexis Completes Tech Transfer to GSK

Codexis, Inc., a protein engineering company, has completed the third and final wave in the transfer of its CodeEvolver protein engineering platform technology to GlaxoSmithKline. Codexis expects to receive a $7.5 million payment from GSK for completion of this milestone in 2Q16.
 
“We are delighted to have successfully completed the first full transfer of our CodeEvolver technology platform under a licensing agreement,” said Codexis president and chief executive officer John Nicols. “I am very proud of the successful tech transfer process executed by the Codexis team. They achieved the criteria the parties had set for the tech transfer process, which occurred ahead of schedule.”
 
The agreement grants GSK a license to use Codexis’ CodeEvolver 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 additional milestone payments ranging from $5.75 million to $38.5 million per project based on GSK’s successful application of the licensed technology. Codexis is also eligible to receive royalties based on sales for products using Codexis’ CodeEvolver technology.
 
The CodeEvolver platform technology is operational at a GSK R&D facility in PA.