Codexis gets first milestone payment in Pfizer collaboration

The objective of the collaboration is to rapidly generate novel biocatalysts for use in manufacturing of Pfizer’s products, improving Pfizer’s R&D productivity while reducing the environmental footprint and manufacturing costs of the ultimate production processes.

The multi-year, non-exclusive agreement includes upfront payments, technology access fees and milestone payments to Codexis, which could total up to $40 million over the first few years of the agreement. If successful, the collaboration could generate additional milestones and commercial payments. Under the agreement announced last year, Pfizer also made a strategic investment of $10 million in Codexis.

“Our collaboration with Pfizer is exceeding expectations,” said Dr Alan Shaw, Codexis president and CEO. “This milestone was achieved ahead of schedule, and further confirms the performance and utility of the Codexis patented technology to develop best-in-class pharmaceutical processes for our partners. This achievement, along with last week’s announcement of a new collaboration with Bristol-Myers Squibb, continues to demonstrate the contribution of Codexis technology to major worldwide pharmaceutical companies.”

Pfizer is incorporating Codexis’ proprietary technologies into the process development and manufacturing of its human therapeutics. The Codexis technology can significantly lower pharmaceutical manufacturing costs, increase process development productivity and create novel intellectual property opportunities for Pfizer products.

In addition, processes using Codexis’ technology have the potential to dramatically improve environmental impact and enhance product quality by reducing impurities, unwanted by- products and hazardous wastes.