Codexis, Bristol-Myers Squibb Sign Research Agreement
Redwood City, CA - May 24, 2005Codexis, Inc., a privately-held biosciences company, today announced it has signed a research agreement with Bristol-Myers Squibb Company (NYSE:BMY) on pharmaceutical process research. In addition to its relationship with Bristol-Myers Squibb, Codexis has 10 strategic alliances in life science and chemistry process development, where its technology is being applied to reduce process development time and manufacturing costs while creating new intellectual property opportunities.
The research with Bristol-Myers Squibb focuses on improving biocatalyst productivity for an undisclosed product candidate in Bristol-Myers Squibb’s pipeline using Codexis' proprietary pharmaceutical process re-engineering platform. Codexis will receive research funding and a milestone payment upon successful completion of certain objectives of the research. If Bristol-Myers Squibb is satisfied with the progress of the research, the agreement may subsequently be expanded to fund additional research. Financial terms were not disclosed.
"We are delighted that Bristol-Myers Squibb, one of the world’s leading pharmaceutical companies, is evaluating Codexis technology in its effort to develop best-in-class processes for its product candidates," said Alan Shaw, Ph.D., Codexis President and Chief Executive Officer. “Pharmaceutical manufacturers are facing increasing cost pressures worldwide. We believe our technology platform and core competence in biotechnology-based pharmaceutical synthesis can significantly improve the economics of product development for global life sciences companies, and thus strengthen their competitive position. We look forward to working with Bristol-Myers Squibb.”
Codexis is a privately held biosciences company applying proprietary protein and strain engineering technologies to create novel process development solutions for efficient, cost-effective and environmentally friendly pharmaceutical manufacturing. Application of the Codexis technology can also generate new intellectual property opportunities for pharmaceutical manufacturers, which may extend a product lifecycle. The company has more than 10 strategic alliances, including a major agreement with Pfizer, and more than 15 products and processes in development internally and at leading worldwide life sciences companies. Codexis, Inc., began operations as an independent company in 2002.
Codexis is a registered trademark of Codexis, 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