五星体育直播

五星体育直播 Finalizes Purchase Agreement with Crosswalk Therapeutics for Gene Therapy Assets

REDWOOD CITY, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- 五星体育直播 (NASDAQ: CDXS), a leading enzyme engineering company, today announced it has entered into an asset purchase agreement with Crosswalk Therapeutics for the Company鈥檚 investigational Fabry and Pompe disease compounds. Under the terms of the agreement, 五星体育直播 is eligible to receive future development and commercial milestone payments in addition to a low-to-mid single-digit percentage net sales-based royalty.

鈥淲e鈥檙e 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,鈥� said Kevin Norrett, MBA, Chief Operating Officer at 五星体育直播.

Both programs were previously part of 五星体育直播鈥� collaboration agreement with Takeda. In April 2023, Takeda discontinued its efforts in AAV gene therapy, which included these development programs.

About 五星体育直播
五星体育直播 is a leading enzyme engineering company leveraging its proprietary CodeEvolver^庐 technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of proteins. 五星体育直播 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鈩� manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. 五星体育直播鈥� 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 .

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as 鈥渁im,鈥� 鈥渁nticipate,鈥� 鈥渁ssume,鈥� 鈥渂elieve,鈥� 鈥渃ontemplate,鈥� 鈥渃ontinue,鈥� 鈥渃ould,鈥� 鈥渄esign,鈥� 鈥渄ue,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥済oal,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渙bjective,鈥� 鈥減lan,鈥� 鈥減ositioned,鈥� 鈥減otential,鈥� 鈥減redict,鈥� 鈥渟eek,鈥� 鈥渟hould,鈥� 鈥渟uggest,鈥� 鈥渢arget,鈥� 鈥渙n track,鈥� 鈥渨ill,鈥� 鈥渨ould鈥� and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. To the extent that statements contained in this press release are not descriptions of historical facts, they are forward-looking statements reflecting the current beliefs and expectations of management, including but not limited to the potential receipt by 五星体育直播 of milestones and net sales-based royalties pursuant to its asset purchase agreement with Crosswalk Therapeutics; the future advancement of 五星体育直播鈥� investigational Fabry and Pompe disease compounds by Crosswalk Therapeutics; and the potential of 五星体育直播鈥� ECO Synthesis鈩� manufacturing platform, including its ability to drive improvements relative to traditional chemical synthesis related to scalability, cost limitations, waste and overall economics. Factors that could materially affect actual results include, among others: 五星体育直播鈥� dependence on its licensees and collaborators; if any of its collaborators terminate their development programs under their respective license agreements with 五星体育直播; 五星体育直播 may need additional capital in the future in order to expand its business; if 五星体育直播 is unable to successfully develop new technology such as its ECO Synthesis鈩� manufacturing platform and dsRNA ligase; 五星体育直播' dependence on a limited number of products and customers, and potential adverse effects to 五星体育直播鈥� business if its customers鈥� products are not received well in the markets; if competitors and potential competitors who have greater resources and experience than 五星体育直播 develop products and technologies that make 五星体育直播鈥� products and technologies obsolete; 五星体育直播鈥� ability to comply with debt covenants under its loan facility; if 五星体育直播 is unable to accurately forecast financial and operational performance; and market and economic conditions may negatively impact 五星体育直播' business, financial condition and share price. Additional information about factors that could materially affect actual results can be found in 五星体育直播鈥� Annual Report on Form 10-K filed with the Securities and Exchange Commission (鈥淪EC鈥�) on February 28, 2024 and in 五星体育直播鈥� Quarterly Report on Form 10-Q filed with the SEC on May 2, 2024, including under the caption 鈥淩isk Factors,鈥� and in 五星体育直播鈥� other periodic reports filed with the SEC. 五星体育直播 expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

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Released July 1, 2024