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.”