Sandoz and Codexis Announce Signing of Research Collaboration to Develop Improved Pharmaceutical Synthesis
27 October 2003 - 9:00PM
PR Newswire (US)
Sandoz and Codexis Announce Signing of Research Collaboration to
Develop Improved Pharmaceutical Synthesis KUNDL, Austria and
REDWOOD CITY, Calif., Oct. 27 /PRNewswire/ -- Sandoz, one of the
world's leading generics companies, and Codexis, a subsidiary of
Maxygen, Inc. announced today a collaboration focused on developing
an improved process for the production of a key fermented active
pharmaceutical compound marketed by Sandoz. Using Codexis'
proprietary MolecularBreeding(TM) directed molecular evolution, the
collaboration will aim to improve the productivity of Sandoz'
manufacturing process, reduce the overall capital expenditures
necessary to produce each unit of product, and generate novel
intellectual property around the synthesis. Under the terms of the
collaboration, Codexis will receive upfront payments, full research
and development funding and will be eligible for milestone and
royalty payments upon success. Codexis will grant Sandoz exclusive
commercialization rights to the improved process for the specific
pharmaceutical product. "Codexis' technologies are ideally suited
to provide significant competitive advantage to the pharmaceutical
industry in terms of profit margin expansion on existing products
and novel intellectual property creation to deter competitive
threats," said Alan Shaw, Ph.D., President and Chief Executive
Officer of Codexis. "These advantages are also relevant to the ever
growing generics industry. We are pleased to be working with one of
the world's top generic pharmaceutical companies, Sandoz, and look
forward to building on our track record of delivering commercial
success to our growing list of pharmaceutical partners." "We are
pleased to be working with Codexis, a demonstrated leader in the
area of applying innovative biotechnology-based solutions to the
challenges of pharmaceutical process development," according to
Ernst Leitner, Ph.D., Head of Research and Development of Sandoz,
Austria. Sandoz, a Novartis company, is a world leader in generic
pharmaceuticals and develops, manufactures, and markets these
medicines as well as pharmaceutical and biotechnological active
ingredients. Decades of experience and profound know-how make
Sandoz a renowned partner in Pharmaceuticals, Biopharmaceuticals
and Industrial Products. Altogether, Sandoz employs around 11,500
people worldwide and posted sales of USD 1.8 billion in 2002.
Codexis, Inc., a majority owned subsidiary of Maxygen, Inc., is a
provider of biocatalysis and fermentation processes and products to
the life science and allied trade industries. Codexis' proprietary
MolecularBreeding(TM) directed molecular evolution allows for the
discovery and development of improved or novel processes for the
efficient and cost-effective synthesis of valuable pharmaceuticals
and chemical compounds utilizing proprietary biocatalysts and
fermentation production strains. Codexis has entered into ten
strategic alliances involving its MolecularBreeding(TM)
technologies, and has over 19 potential products and processes in
development with partners and in its own R&D pipeline. 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. Codexis is a
trademark of Codexis, Inc. For further information, please see our
website at http://www.codexis.com/ . CONTACT: Tassos Gianakakos,
Vice President, Finance and Corporate Development of Codexis, Inc.,
+1-650-298-5423, or fax, +1-650-298-5449, or . DATASOURCE: Codexis,
Inc. CONTACT: Tassos Gianakakos, Vice President, Finance and
Corporate Development of Codexis, Inc., +1-650-298-5423, or fax,
+1-650-298-5449, or Web site: http://www.codexis.com/
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