REDWOOD CITY, Calif. & CHONGQING, China -- (BUSINESS WIRE) --
Codexis, Inc. (NASDAQ: CDXS) and Porton Pharma Solutions, Ltd. (SZSE: 300363) announce a strategic collaboration to deploy Codexis’ world-leading biocatalyst technology within Porton’s global custom intermediate and active pharmaceutical ingredients (API) development and manufacturing business. The partnership will accelerate the creation and commercialization of new, low-cost, sustainable manufacturing processes, exploiting the benefits of biocatalysts to a growing number of the world’s small molecule pharmaceuticals.
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Under the terms of the collaboration, Codexis will license core elements of its biocatalyst technologies to Porton, including its proprietary biocatalyst libraries, high-throughput screening and enzyme manufacturing know-how. Codexis will also provide preferential access to its CodeEvolver® protein engineering platform technology for the creation of new biocatalytic process solutions. Porton will install new operations to drive adoption and optimal application of these biocatalyst technologies into its custom contract development and manufacturing (CDMO) offerings to global pharmaceutical customers. Additionally, Porton pledges financial commitments to utilize Codexis’ CodeEvolver® protein engineering platform technology.
The partnership reinforces the benefits of reduced costs, enhanced sustainability and improved product quality that biocatalysts can deliver to the manufacturing of the world’s small molecule pharmaceuticals. These benefits are already impacting a growing set of the world’s drug manufacturing processes and have earned Codexis three U.S. EPA Presidential Green Chemistry Challenge awards for its biocatalysts’ contributions in these commercial-scale drug manufacturing innovations.
“Technological leadership is central to our strategy to grow and deliver value to our pharmaceutical clients around the globe,” said Oliver Ju, chairman and CEO at Porton Pharma Solutions. “We believe that biocatalysis is the most impactful technology to improve the future of pharmaceutical manufacturing, and there is not a more capable player to partner with than Codexis.”
“We are delighted to establish this unique partnership with Porton,” said John Nicols, president and CEO of Codexis. “Given Porton’s significant and fast-growing presence as a leading global CDMO, we will now be able to reach a greater share of the world’s pharmaceutical manufacturing market.”
About Codexis, Inc.
Codexis is a leading protein engineering company that applies its proprietary CodeEvolver® technology to develop proteins for a variety of applications, including as biocatalysts for the commercial manufacture of pharmaceuticals, fine chemicals and industrial enzymes, and enzymes as biotherapeutics and for use in molecular diagnostics. Codexis’ proven technology enables improvements in protein performance, meeting customer needs for rapid, cost-effective and sustainable manufacturing in multiple commercial-scale implementations of biocatalytic processes. For more information, see www.codexis.com.
About Porton Pharma Solutions
Porton Pharma Solutions is an industry-leading partner and provider of custom active pharmaceutical ingredient (API) development and manufacturing services to the global drug industry (SZSE, Stock Code 300363). Backed by more than 1,700 customer-centric employees, cutting-edge Process R&D Centers, USFDA and PMDA-inspected cGMP production sites and marketing offices located across Asia, North America and Europe, Porton helps its customers more efficiently deliver improved health outcomes to their patients through chemical process innovation, rapid scale-up and high-quality, cost-effective manufacture of APIs and/or drug intermediates. Learn more by visiting www.porton.cn.
Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Codexis, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including Codexis’ expectations regarding its strategic global partnership with Porton for the creation and commercialization of new, low cost sustainable manufacturing processes. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Codexis’ control and that could materially affect actual results. Factors that could materially affect actual results include, among others: Codexis’ dependence on its licensees and collaborators; Codexis’ dependence on a limited number of products and customers in its biocatalysis business; potential adverse effects to Codexis’ business if its customers’ pharmaceutical or food products are not received well in the markets; risks, uncertainties and costs associated with the successful development of biotherapeutic candidates, including obtaining development partners for its biotherapeutic programs and progressing such programs to clinical trials and regulatory approvals; Codexis’ ability to develop and commercialize new products for the biocatalysis markets; Codexis’ dependence on a limited number of contract manufacturers for large-scale production of its enzymes; Codexis’ ability to deploy its technology platform in new market spaces, including the fine chemicals, therapeutics and in vitro molecular diagnostics markets; Codexis’ ability to comply with the terms of its credit facility and its associated debt service obligations; Codexis’ need for additional capital in the future in order to expand its business or to adjust for market conditions or strategic considerations, which may involve Codexis entering into equity offerings, debt financings, credit facilities and/or strategic collaborations; Codexis’ dependence on key personnel; Codexis’ ability to establish and maintain adequate protection for intellectual property, trade secrets and other proprietary rights covering its technologies; and any claims by third parties that Codexis is infringing their intellectual property rights or other proprietary rights. Additional information about factors that could materially affect actual results can be found in Codexis’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 15, 2018 and Codexis’ other periodic reports filed with the SEC, including under the caption “Risk Factors.” Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
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CONTACT:
Codexis Contacts:
Investors
LHA Investor Relations
Jody Cain, +1 310-691-7100
jcain@lhai.com
or
Media
SCORR Marketing
Lea Studer, +1 308-237-5567
lea@scorrmarketing.com
or
Porton Pharma Solutions Contact:
Helen Pi
Head of General Office
wei.pi@porton.cn
