Codexis Partners with Nestlé Health Science in Promising EPI Treatment Deal Worth Up to $45M
Codexis, Inc. (NASDAQ: CDXS) has signed a purchase agreement with Nestlé Health Science for CDX-7108, a therapy aimed at treating exocrine pancreatic insufficiency (EPI). The deal includes potential milestone payments of up to $45 million, with an upfront payment of $5 million, and royalties on net sales. Codexis may also receive an additional $5 million if Nestlé Health Science decides to purchase two more early-stage enzymes.
Stephen Dilly, MBBS, PhD, Chief Executive Officer of Codexis, said, “This agreement solidifies the future development of CDX-7108—a potential new therapy that could be added to the treatment armamentarium for patients with exocrine pancreatic insufficiency—and enables Codexis to focus resources on the advancement of our ECO Synthesis™ platform and the return to growth of our Pharmaceutical Manufacturing business. Preliminary data from the CDX-7108 Phase I study announced earlier this year support continued investigation into Phase II clinical studies. We believe that CDX-7108 could represent a meaningful advance in the standard of care for patients, and we are pleased to retain an economic interest in the program as Nestlé continues development.”
Key Points:
Agreement Terms: Up to $45M in milestone payments from Nestlé Health Science, with $5M upfront and additional royalties.
Development and Commercialization: Nestlé Health Science will handle all future development and commercialization costs.
CDX-7108: A lipase variant designed to improve upon traditional pancreatic enzyme replacement therapies, targeting EPI.
Next Steps: Phase II clinical studies of CDX-7108 are supported by preliminary Phase I data.
About Codexis
Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of proteins. Codexis enzymes solve for real-world challenges associated with small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The Company is currently developing its proprietary ECO Synthesis™ platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications.
