REDWOOD CITY, CA, USA I July 01, 2024 I Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced it has entered into an asset purchase agreement with Crosswalk Therapeutics for the Company’s investigational Fabry and Pompe disease compounds. Under the terms of the agreement, Codexis is eligible to receive future development and commercial milestone payments in addition to a low-to-mid single-digit percentage net sales-based royalty.
“We’re thrilled to place these exciting programs in highly experienced hands at Crosswalk Therapeutics. Since announcing our strategic shift last year, we have executed multiple transactions to monetize our non-core assets and enable our team to focus on programs where we can deliver maximum value. Crosswalk Therapeutics is led by former members of the Takeda rare diseases team who are familiar with these programs, making them the ideal partner to continue advancing these therapies in the best interest of patients,” said Kevin Norrett, MBA, Chief Operating Officer at Codexis.
Both programs were previously part of Codexis’ collaboration agreement with Takeda. In April 2023, Takeda discontinued its efforts in AAV gene therapy, which included these development programs.
About Codexis
Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of proteins. Codexis enzymes solve for real-world challenges associated with small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit www.codexis.com.
SOURCE: Codexis
Post Views: 6,582
REDWOOD CITY, CA, USA I July 01, 2024 I Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced it has entered into an asset purchase agreement with Crosswalk Therapeutics for the Company’s investigational Fabry and Pompe disease compounds. Under the terms of the agreement, Codexis is eligible to receive future development and commercial milestone payments in addition to a low-to-mid single-digit percentage net sales-based royalty.
“We’re thrilled to place these exciting programs in highly experienced hands at Crosswalk Therapeutics. Since announcing our strategic shift last year, we have executed multiple transactions to monetize our non-core assets and enable our team to focus on programs where we can deliver maximum value. Crosswalk Therapeutics is led by former members of the Takeda rare diseases team who are familiar with these programs, making them the ideal partner to continue advancing these therapies in the best interest of patients,” said Kevin Norrett, MBA, Chief Operating Officer at Codexis.
Both programs were previously part of Codexis’ collaboration agreement with Takeda. In April 2023, Takeda discontinued its efforts in AAV gene therapy, which included these development programs.
About Codexis
Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of proteins. Codexis enzymes solve for real-world challenges associated with small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit www.codexis.com.
SOURCE: Codexis
Post Views: 6,582
