Codexis, Inc and Dyadic International (USA), Inc has entered into a license agreement covering use of Dyadic's C1 expression system for large-scale production of enzymes in certain fields including biofuels and chemical and pharmaceutical intermediate production. The agreement includes an upfront payment by Codexis of $10 million provided that certain performance criteria are satisfied. Additional financial terms were not disclosed.
"Codexis develops improved biocatalysts which are solving specific industrial challenges for global leaders in pharmaceuticals and bioindustrials. We are developing advanced biofuels from non-food biomass sources, and we have other programs aimed at addressing critical environmental issues," said Alan Shaw, Codexis president and chief executive officer. "The Dyadic production system expands our technology platform, providing improved capability and efficiency in enzyme production across many Codexis programmes."
"Dyadic's C1 expression system enables the cost-effective manufacture of industrial enzymes at commercial scale," said Mark Emalfarb, Dyadic founder and chief executive officer. "We anticipate our C1 System may help overcome limitations of current techniques, and can be an important tool as Codexis develops new fuels and other clean technology products."
Codexis is a clean technology company. Codexis develops biocatalysts used to create powerful, efficient and cleaner chemistry-based manufacturing processes in the life sciences, bioindustrial and chemical marketplaces.
Dyadic International is engaged in the development, manufacture and sale of biological products using a number of proprietary fungal strains to produce enzymes and other biomaterials, principally focused on a system for protein production based on the patented Chrysosporium lucknowense fungus, known as C1.