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news.Codexis, a clean technology company, and Dyadic International, a developer of biological products, have signed a license agreement covering use of Dyadic's C1 expression system for large-scale production of enzymes in certain fields including biofuels and chemical and pharmaceutical intermediate production.
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The agreement includes an upfront payment by Codexis of $10 million provided that certain performance criteria are satisfied. Additional financial terms were not disclosed.
Mark Emalfarb, founder and CEO of Dyadic, said: “Dyadic’s C1 expression system enables the cost-effective manufacture of industrial enzymes at commercial scale. We anticipate our C1 system may help overcome limitations of current techniques, and can be an important tool as Codexis develops new fuels and other clean technology products.”