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Company Description

Contact Info

200 Penobscot Drive

Redwood City, CA 94063

United States

Phone: 650-421-8100


Codexis, Inc. develops biocatalysts for the pharmaceutical and fine chemicals markets in the United States and internationally. Products and Services Codex Biocatalyst Panels and Kits The company sells Codex Biocatalyst Panels and Kits to customers who are engaged in both drug development and the marketing of approved drugs to allow them to screen and identify possible enzymatic manufacturing processes for their drug candidates and their marketed products. Codex Biocatalyst Panels are tools that provide genetically diverse variants of its proprietary enzymes, which allow its customers to determine whether an enzyme produces a desired activity that is applicable to a particular process. Codex Biocatalyst Kits provide subsets of the Panel enzymes in individual vials for the same purpose. For compounds that are in development, Codex Biocatalyst Panels and Kits allow innovators to screen and identify possible enzymatic manufacturing processes for majority of their drug candidates in-house, without the risks of disclosing the composition of their proprietary molecules before they have received patent protection; and generate data that the company could use to optimize enzymes for a particular reaction, if necessary, reducing the time required to generate a manufacturing process capable of supporting clinical trials with inexpensively produced, pure drugs. Enzyme Screening Services If a customer prefers, rather than subscribing to the company’s Codex Biocatalyst Panels or Kits to use for their own screening, they could send it their materials to test against its existing libraries of enzymes. If the company detects desired activity in a specific enzyme, it could supply the customer with this enzyme or perform optimization services to improve the performance of the enzyme. Enzyme Optimization Services The company works with customers throughout the pharmaceutical product lifecycle to customize enzymes, resulting in optimized enzymes that have been evolved specifically to perform a desired process according to a highly selective set of specifications. Enzymes The company supplies varying quantities of its enzymes to pharmaceutical companies, from small to moderate quantities while they are optimizing their production processes, to larger quantities during later-stage clinical development and commercial scale drug production. The company’s enzymes enable innovators to manufacture products during preclinical and clinical development using optimized enzymatic processes, with relatively low investment; eliminate the need for innovators to invest in the development of complex chemical synthesis routes during the development stage; allow innovators to achieve higher product purity during the development stage prior to investing in expensive late-stage clinical trials; reduce the risk of adverse effects arising from product impurities; allow the removal of entire steps from synthetic chemical production routes during commercial scale production, reducing raw material costs, energy requirements and the need for capital expenditures; and decrease the manufacturing costs for its customers. The company has collaboration with Merck for the development of enzyme for use in a new manufacturing process for sitagliptin, the active pharmaceutical ingredient (API) in Merck's pharmaceutical product Januvia. Januvia is Merck's first-in-class medication for the treatment of Type II diabetes. Intermediates and APIs The company supplies customers with intermediates and APIs made using enzymes throughout the drug lifecycle. The company markets intermediates and APIs for the generic equivalents of branded pharmaceutical products for sale in various markets. Fine Chemicals Industry Products and Services The company intends to expand fine chemicals market opportunities beyond the food market, including the animal feed, agricultural chemicals and flavors and fragrances markets. The company develops biocatalyst processes for the manufacture of commercial fine goods using biocatalysts for the fine chemicals markets. Patents As of December 31, 2015, the company owned or controlled approximately 500 issued patents and approximately 290 pending patent applications in the United States and in various foreign jurisdictions. Its intellectual property rights have terms that expire between 2016 and 2035. The company’s intellectual property rights in the United States directed to enabling technologies developed by Codexis have terms that expire from 2019 to 2034. Trademarks The company’s registered and pending United States and foreign trademarks include Codexis, Codex, CodeEvolver, CodeXporter, CodeXol, CodeXyme, Powered by CodeEvolver, We Are Biocatalysis, Mosaic, Sage, Microcyp, MYCP, Hit from a Kit, ProSAR, We’re Codexis. Proven Products. Real Results, Driving the New Sugar Economy and a Codexis and design mark (i.e., the Codexis logo). Customers For The year ended December 31, 2015, the company’s primary customers included Merck; Exela PharmSci, Inc.; GlaxoSmithKline; and Novartis. License Agreement In August 2015, the company entered into a Platform Technology Transfer and License Agreement (the ‘Merck CodeEvolver Agreement’) with Merck, Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc. (collectively, ‘Merck’). The Merck CodeEvolver Agreement allows Merck to use its proprietary CodeEvolver protein engineering platform technology in the field of human and animal healthcare. Competition The company’s competitors include Solvias Inc.; Takasago International Corporation; Novozymes; DSM; Cambrex Corporation; Almac Group Ltd.; BRAIN AG; C-LEcta GmbH; evocatal GmbH; Dupont-Genencor; and A.B. Enterprises. History Codexis, Inc. was founded in 2002. The company was incorporated in Delaware in 2002.


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Valuation CDXS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.4x
Price/Book 9.2x
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TEV/Sales 3.1x

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