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news.Codexis has completed the second and final phase in the transfer of its CodeEvolver protein engineering platform technology to Merck, known as MSD outside the US and Canada, under a non-exclusive licensing agreement.
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Codexis will receive an $8 million payment from Merck for completion of this milestone to be paid in the fourth quarter of 2016.
Codexis President and CEO John Nicols said: “We have now successfully transferred our CodeEvolver technology under licensing agreements with two major pharmaceutical companies, and completed both ahead of schedule.
“This technology licensing agreement builds upon our long-standing relationship with Merck. The successful completion of these two technology transfer agreements underscores the promise of our licensing strategy in addition to providing services and supplying products under our traditional business model.”
In August 2015, Codexis announced the signing of a technology transfer and licensing agreement with Merck. In October, 2015 Codexis received a $5 million payment for the first technology transfer milestone.
Following the completion of the technology transfer, Codexis is now eligible to receive payments of up to $15 million for each commercial active pharmaceutical ingredient (API) that is manufactured by Merck using one or more novel enzymes developed by Merck using the CodeEvolver technology.
Merck Senior Vice President, Global Chemistry Rich Tillyer said: “Our long-term collaboration with scientists at Codexis has established the potential of the CodeEvolver technology platform in improving manufacturing efficiency.
“The completion of this technology transfer now provides Merck with the internal capabilities to advance and expand the use of custom enzymes in pharmaceutical manufacturing processes.”
About CodeEvolver Protein Engineering Platform Technology
Codexis’ proprietary CodeEvolver protein engineering platform enables the rapid development of custom-designed enzymes that are highly optimized for a specific function.
The CodeEvolver platform is comprised of proprietary methods for the optimization of proteins through the design and generation of diverse genetic libraries, automated screening techniques, algorithms for the interpretation of screening data and predictive modelling.
The Codexis CodeEvolver platform technology is covered by more than 250 issued patents and pending patent applications worldwide.