Codexis announces new deal with Shell, slashes 133 employees

In California, Codexis announced that the company has signed an agreement with Shell to expand Codexis’ ability to commercialize its CodeXymeTM cellulase enzymes under a royalty-bearing, non-exclusive license to develop, manufacture, use and sell cellulase enzymes developed according to the companies’ Amended and Restated Collaborative Research Agreement. It also announced a workforce reduction as part of its effort to control expenses and conserve cash for its ongoing and future programs following the termination of the Shell Research Agreement and the corresponding loss of ongoing funding for FTEs under the Shell Research Agreement. This action will reduce Codexis’ workforce by approximately 133 employees effective October 30, 2012.

Tags: California, Codexis, enzyme, Shell

Category: Producer News