Benzinga | Jul 7, 2021 04:07PM EDT

Codexis Says Earns Milestone Payment From GlaxoSmithKline

Codexis, Inc. (NASDAQ:CDXS), a leading enzyme engineering company enabling the promise of synthetic biology, announced it earned a significant milestone payment related to the licensing of its proprietary CodeEvolver(r) protein engineering platform technology to GlaxoSmithKline (GSK). This milestone marks the advancement of the commercialization of an enzyme, generated using CodeEvolver under the licensing agreement, that is engineered to improve a key step in the manufacturing process for a currently undisclosed drug. The milestone, which was expected in the second half of 2021, was recorded as revenue in the second quarter.



"Codexis is proud that our CodeEvolver platform continues to offer robust value to GSK," said John Nicols, President and CEO of Codexis. "As our first platform licensing partner, it is gratifying to see the value of our relationship with GSK continue to grow. This milestone reinforces our confidence that CodeEvolver licensing backend economics will become a significant and growing long term revenue source as our platform partners - currently three of the world's leading pharmaceutical companies - continue to commercialize their CodeEvolver developed enzymes."