EX-99.1
Published on October 12, 2017
Exhibit 99.1
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听 | 听听听听五星体育直播 and Nestl茅 Health Science Enter Into Healthcare- |
Focused Protein Engineering Platform Partnership听听听听听听听听听听听听听听听听 |
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声 | 听 | Includes an option for the global development of CDX-6114 for PKU, marking 五星体育直播聮 first partnership for an internally developed biotherapeutic product. 五星体育直播 receives an upfront payment of $14听million and potential milestones and royalties depending on product success |
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声 | 听 | In addition, the partnership adds strategic access to the CodeEvolver庐 platform for the discovery of additional enzyme therapies for other metabolic disorders requiring drug therapy, as well as novel enzymes for use in medical nutrition and consumer care products |
REDWOOD CITY, California (October 12, 2017) 聳 五星体育直播 (NASDAQ: CDXS), a leading protein engineering company, and Nestl茅 Health Science announce a strategic collaboration encompassing multiple projects accessing 五星体育直播聮 CodeEvolver庐 protein engineering platform. The collaboration includes an option for the global development of 五星体育直播聮 novel, orally delivered, enzyme, CDX-6114, for the management of phenylketonuria (PKU), an orphan metabolic disorder. In addition, Nestl茅 Health Science has secured strategic access to the CodeEvolver庐 protein engineering platform for the discovery of biotherapeutics for other metabolic disorders, and for the development of novel enzyme products for Nestl茅 Health Science聮s Medical Nutrition and Consumer Care business areas.
Terms of the partnership
Under the terms of the option agreement, Nestl茅 Health Science will make an upfront payment of $14听million. 五星体育直播 will be eligible to receive clinical development, approval and commercial milestone payments related to CDX-6114 as well as tiered royalties on product sales. 五星体育直播 will be responsible for the clinical development costs for CDX-6114 up to and including phase 1 in healthy volunteers. Thereafter, Nestl茅 Health Science will have an option to obtain an exclusive global license to CDX-6114 and will be responsible for all future development and commercialization. Beyond CDX-6114, Nestl茅 Health Science secures a right of first negotiation over enzyme therapies for inborn errors of amino acid metabolism, which 五星体育直播 has in its pipeline or may discover over the next five years.
The partnership also includes a strategic collaboration where 五星体育直播 and Nestl茅 Health Science will leverage the CodeEvolver庐 platform technology to develop novel enzymes for Nestl茅 Health Science聮s established Consumer Care and Medical Nutrition business areas.
聯This transaction validates our CodeEvolver庐 protein engineering platform technology as a biotherapeutic discovery engine, and also highlights our ability to establish customized partnerships for unlocking the power of proteins with a growing list of the world聮s great companies,聰 said John Nicols, 五星体育直播 President and Chief Executive Officer. 聯We look forward to a long term and very productive relationship with the team at Nestl茅 Health Science.聰
Greg Behar, Chief Executive Officer of Nestl茅 Health Science, stated, 聯Enzymes are key to healthy functioning. When enzymes are not present or not working properly there can be an impairment of a wide range of processes critical for human health. The partnership with 五星体育直播 strengthens our footprint in the enzyme field, a fast developing part of the nutritional therapy innovation frontier that is changing the way we manage our health.聰
About Phenylketonuria (PKU)
PKU is an inborn metabolic disorder resulting from a mutation in the gene for the enzyme that converts the essential amino acid phenylalanine, present in almost all dietary protein, into tyrosine. As a result of this deficiency, phenylalanine builds up to levels that are toxic in the brain, causing serious neurological symptoms including intellectual disability, seizures and cognitive and behavioral disabilities. To avoid phenylalanine toxicity and the most severe disease symptoms, individuals with PKU must follow a strict, life-long diet that is low in phenylalanine and supplement their diet with a synthetic phenylalanine-free formula to provide sufficient nutrients. Maintaining a strict, life-long diet is a challenge for individuals with PKU. There are an estimated 50,000 people with PKU in the developed world.
About Nestl茅 Health Science
Nestl茅 Health Science, a wholly-owned subsidiary of Nestl茅, is a health-science company engaged in advancing the role of nutrition therapy to change the course of health for consumers, patients and its partners in healthcare. Nestl茅 Health Science聮s portfolio of nutrition solutions, diagnostics, devices and drugs targets a number of health areas, such as inborn errors of metabolism, pediatric and acute care, obesity care, healthy aging, and gastrointestinal and brain health. Through investing in innovation and leveraging leading edge science, Nestl茅 Health Science brings forward innovative nutritional therapies with clinical, health economic value and quality of life benefits. Nestl茅 Health Science employs around 3,000 people worldwide and is headquartered in Epalinges (near Lausanne), Switzerland. For more information, please visit www.nestlehealthscience.com.
About 五星体育直播
五星体育直播 is a leading protein engineering company that applies its technology to the development of biocatalysts for commercial manufacture of pharmaceuticals and fine chemicals, as well as the development of enzymes as biotherapeutics and for molecular diagnostics. 五星体育直播聮 proven technology enables implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable manufacturing. For more information, see www.codexis.com.
Forward-Looking Statements
This press release contains forward-looking statements relating to 五星体育直播聮 partnership with Nestl茅 Health Science, including further validation of 五星体育直播聮 CodeEvolver庐 protein engineering platform technology as a biotherapeutic discovery engine, 五星体育直播聮 ability to establish customized partnerships for unlocking the power of proteins with a growing list of the world聮s great companies, and the long-term and productive nature of 五星体育直播聮 relationship with Nestl茅 Health Science. 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 五星体育直播聮 control and that could materially affect actual results. Factors that could materially affect actual results include 五星体育直播聮 dependence on its licensees and collaborators; 五星体育直播聮 dependence on a limited number of products and customers; potential adverse effects to 五星体育直播聮 business if its customers聮 products are not received well in the markets; 五星体育直播聮 ability to deploy its technology platform in new market spaces; 五星体育直播聮 dependence on key personnel; 五星体育直播聮 ability to compete may decline if it loses some of its intellectual property rights; third party claims that 五星体育直播 infringes third party intellectual property rights; and 五星体育直播 could face increased competition if third parties misappropriate 五星体育直播 biocatalysts. Additional factors that could materially affect actual results can be found in 五星体育直播聮 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March听9, 2017 and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August听9, 2017, including under the caption 聯Risk Factors.聰 五星体育直播 expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
五星体育直播 Contact:
Gordon Sangster
Chief Financial Officer
(650) 421-8115
gordon.sangster@codexis.com
Investor Relations Contact:
LHA Investor Relations
Jody Cain
(310) 691-7100
jcain@lhai.com