Cargill and Codexis Announces Signing of Research Collaboration to Develop Novel Industrial Biomaterials Platforms
Minneapolis, MN and Redwood City, CA - May 19, 2003Cargill Incorporated and Codexis, Inc. today announced an agreement to develop a novel biochemical platform that will enable production of specialty chemicals, polymers and other industrial chemicals using agricultural raw materials. The collaboration will take advantage of Codexis’ proprietary MolecularBreeding™ directed molecular evolution technologies and Cargill’s expertise in developing and commercializing biological processes.
Building on metabolic pathways developed by Cargill, Codexis will use its proprietary technologies to enhance the production of 3-hydroxypropionic acid (3-hp) from carbohydrate raw materials. Researchers believe 3-hp has the potential to be a key building block in the production of several chemicals and polymers, including 1,3-propanediol, malonates, specialty polyesters, and acrylic acid.
Under the terms of the collaboration, Cargill and the US Department of Energy will share funding of the three-year program designed to advance the technology toward commercialization by Cargill. Codexis will be eligible for milestone and royalty payments upon success. Shared funding for this collaboration was made through an award from The Department of Energy’s Office of Energy Efficiency and Renewable Energy as part of the 2002 solicitation seeking novel technologies and processes that integrate the production of biomass-derived fuels, power, and chemicals into economical, sustainable industrial biorefineries.
“The establishment of this partnership is a further illustration of the breadth and potential of Codexis’ technologies,” said Alan Shaw, President and Chief Executive Officer of Codexis. “We are pleased to be working with Cargill in the development of more efficient and environmentally friendly chemical syntheses.”
“This partnership illustrates Cargill’s continued commitment for the development of value-added materials from agricultural products,” said Jim Stoppert, who leads Cargill's Industrial Bioproducts initiative. “We are eager to apply Codexis’ technologies to accelerate Cargill’s commercialization of a new fermentation process to produce 3-hp.”
Cargill’s industrial bioproducts initiative seeks to create technology and, through alliances with chemical companies and technology providers, strategically develop and bring to market new chemical platforms. These alliances will focus on further development of fermentation, enzymatic, and chemical technologies to convert agricultural raw materials into value-added products.
About Cargill, Inc.
Cargill, Incorporated is an international marketer, processor and distributor of agricultural, food, financial and industrial products and services with 97,000 employees in 59 countries. The company provides distinctive customer solutions in supply chain management, food applications, and health and nutrition.
About Codexis, Inc.
Codexis, Inc., a majority owned subsidiary of Maxygen, Inc., is a provider of biocatalysis and fermentation processes and products to the life science and fine chemical industries. Codexis’ proprietary MolecularBreeding™ directed molecular evolution technologies allow for the rapid discovery and development of improved or novel processes for the efficient and cost-effective synthesis of valuable chemicals utilizing breakthrough biocatalysts and production strains. Codexis offers its customers R&D services, proprietary biocatalysts and fermentation strains, processes, synthetic and natural products. Codexis has entered into nine strategic alliances in the chemicals field, and has over 19 potential products and processes in its R&D pipeline, with two product candidates in development. In addition, Codexis has five processes now operating at commercial scale, each generating royalty payments. Codexis commenced operations as an independent company in October, 2002. MolecularBreeding is a trademark of Maxygen, Inc.
Contact:
Codexis, Inc.
Tassos Gianakakos
Sr. Vice President, Business Development
T. +1-650-298-5423
F. +1-650-298-5449
tassos.gianakakos@codexis.com