Codexis inks multi-$M GSK deal

July 15, 2014 |

In California, Codexis announced the signing of a platform technology license agreement with GlaxoSmithKline (GSK). Under the terms of the agreement, Codexis granted GSK a license to use Codexis’ proprietary CodeEvolver® protein engineering platform technology in the field of human healthcare. The license allows GSK to use Codexis’ platform technology to develop novel enzymes for use in the manufacture of GSK’s pharmaceutical and health care products.

GSK may also use the licensed technology to develop new therapeutic, diagnostic and prophylactic products in the human health field. Upon completion of technology transfer, GSK will have Codexis’ state-of-the-art CodeEvolver protein engineering platform installed at its Upper Merion, Pennsylvania research and development site.

Codexis is eligible to receive up to $25 million over approximately the next two years, $6 million of which will be paid upfront shortly after signing and an additional $19 million subject to satisfactory completion of technology transfer milestones. Codexis also has the potential to receive numerous additional milestone payments that range from $5.75 million to $38.5 million per project based on GSK’s successful application of the licensed technology.

In addition, Codexis will be eligible to receive royalties based on net sales, if any, of a limited set of products developed by GSK using Codexis’ CodeEvolver protein engineering platform technology.

 

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