Codexis Announces Purchase Agreement with Nestlé Health Science for CDX-7108
REDWOOD CITY, Calif., Dec. 27, 2023 (GLOBE NEWSWIRE) — Codexis, Inc. (NASDAQ:CDXS), a leading enzyme engineering company, today announced it has entered into a purchase agreement with Nestlé Health Science, a globally recognized leader in the field of nutritional science, for CDX-7108, an investigational therapy for the potential treatment of exocrine pancreatic insufficiency (EPI). Under the terms of the agreement, Codexis will receive up to $45M in potential milestone payments, including a $5M upfront payment, as well as single-digit net-sales-based royalties. Codexis will receive up to an additional $5M if Nestlé Health Science exercises an option to purchase two additional early-stage enzymes being developed for EPI. Nestlé Health Science will be solely responsible for the continued development and commercialization of CDX-7108, including all associated costs.
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