Codexis Sells Its Hungarian Operations to Intrexon Corporation
REDWOOD CITY, Calif., March 13, 2014 (GLOBE NEWSWIRE) -- Codexis, Inc.
(Nasdaq:CDXS), a leading developer of biocatalysts for the pharmaceutical and
fine chemical industries, today announced the sale of its subsidiary in
Hungary to Intrexon Corporation. The transaction closed on March 13, 2014,
with a purchase price of $1.5 million.No proprietary Codexis materials or
intellectual property were included in the transaction.
"We are very pleased with this transaction," said John Nicols, President and
CEO of Codexis."We were able to transfer our dedicated and talented employees
in Hungary to Intrexon and to monetize one of our assets as part of the wind
down of our biofuels business."
Codexis, Inc.is a leading developer of biocatalysts for pharmaceutical and
fine chemical production. Codexis' proven technology enables scale-up and
implementation of biocatalytic solutions to meet customer needs for rapid,
cost-effective and sustainable process development – from research to
manufacturing. For more information, seewww.codexis.com.
Paul Cox, 212-362-1200
Jemma Connor, +44 161 359 3255
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