Published on December 1, 2009 at 11:47 PM
Codexis, Inc. today announced an expansion of its relationship and the signing of its second agreement this year with Teva Pharmaceutical Industries Ltd., the world's largest generic drug manufacturer. The new agreement covers three undisclosed pharmaceutical products. Codexis announced an earlier agreement with Teva on January 7.
Under the new agreement, Teva will use Codexis biocatalysis technology for key process steps in the manufacture of the covered generic products. Codexis develops proprietary custom biocatalysts which contribute to lower pharmaceutical process development and manufacturing costs. The company's technology is in use by leading drug companies worldwide. Financial terms were not disclosed.
"Expansion of our relationship with Teva from one to four products in under a year demonstrates the value of Codexis technology in today's competitive pharmaceuticals market," said Alan Shaw, Ph.D, Codexis President and Chief Executive Officer. "We are pleased to broaden our relationship with this major pharmaceuticals company."
SOURCE Codexis, Inc.