Codexis, Inc. (CDXS)

[starbuxsux]

Codexis in License Pact With GlaxoSmithKline

4:18 PM ET 7/14/14 | Dow Jones
By Josh Beckerman

Codexis Inc. (CDXS), which develops bio-catalysts for pharmaceutical and chemical production, has granted GlaxoSmithKline PLC (GSK) a license to use its CodeEvolver protein technology.

The license lets Glaxo use Codexis' platform technology to develop enzymes for use in pharmaceutical and health-care products.

Codexis said it is eligible to receive up to $25 million over a period of about two years, $6 million of which will be paid upfront and $19 million that is subject to completion of technology transfer milestones.

The company could receive additional milestone payments of $5.75 million to $38.5 million per project, depending on successful application of the technology.

Shares were halted after hours.

Write to Josh Beckerman at [e-mail]

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July 14, 2014 16:18 ET (20:18 GMT)

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