Codexis Acquires Maxygen Directed Evolution Intellectual Property Portfolio; Biofuels Payments to Maxygen End, Codexis Fields of Use Expand


REDWOOD CITY, Calif., Oct. 28 -- Codexis, Inc. (Nasdaq: CDXS) today announced that the company has acquired the directed evolution intellectual property portfolio of Maxygen, Inc. (Nasdaq: MAXY) for $20 million in cash. With this transaction, Codexis no longer has any obligations to make payments to Maxygen, including potential royalties, relating to biofuels and other energy products.

The agreement also enables Codexis to pursue application of its directed evolution biocatalysis technology platform beyond its current markets to all fields of use, including chemicals, subject to preexisting licenses that Maxygen has previously granted. Maxygen licensed the technology to Codexis in 2002 as part of the spin-out of Codexis from Maxygen.

Codexis is a clean technology company. Codexis develops optimized biocatalysts that make industrial processes faster, cleaner and more efficient. Codexis' technology is commercialized with leading global pharmaceutical companies and in development for advanced biofuels with Shell. Other potential markets include carbon capture, water treatment and chemicals. For more information, see www.codexis.com.

SOURCE Codexis, Inc.

CONTACT:
Media,
Lyn Christenson,
+1-650-421-8144,
lyn.christenson@codexis.com;

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