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Article: Pfizer Taking $10M Equity Chunk In Codexis As Part Of Agreement.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West Coast Editor
Codexis Inc. nailed down a research and development deal with Pfizer Inc. that could be worth up to $40 million, plus a $10 million equity investment that the pharmaceutical giant is making right away - but that's hardly all.
"If Pfizer goes to market with a product that uses our technology, we'd be talking hundreds of millions of dollars," said Alan Shaw, president and CEO of Redwood City, Calif.-based Codexis.
Pfizer also gets an option to license MolecularBreeding for in-house use. Described as "directed molecular evolution technology," MolecularBreeding deploys biocatalysis and fermentation to come up with new or improved ...
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