五星体育直播

五星体育直播 and Molecular Assemblies Partner to Transform the Field of DNA Synthesis

Partnership targets accelerating the commercialization of enzymatic DNA synthesis: 五星体育直播 invests cash and protein engineering for equity stake in Molecular Assemblies

REDWOOD CITY, Calif. and SAN DIEGO, June 23, 2020 (GLOBE NEWSWIRE) -- 五星体育直播 (Nasdaq: CDXS), a leading protein engineering company and developer of high-performance enzymes, and Molecular Assemblies, Inc., a pioneer in the field of enzymatic DNA synthesis, announce a partnership to engineer enzymes to deliver differentiated and cost-effective solutions for the enzymatic synthesis of DNA.

Under the terms of the agreement, 五星体育直播 will purchase $1 million in Series A preferred stock of Molecular Assemblies, and John Nicols, 五星体育直播鈥� President and CEO will join the Molecular Assemblies鈥� Board of Directors. Furthermore, by applying its CodeEvolver^庐 platform technology to improve the DNA polymerase enzymes that are critical for enzymatic DNA synthesis, 五星体育直播 is eligible to earn additional Series A preferred stock that is expected, including success-based milestones, to accumulate to an ownership stake in excess of 10%. Molecular Assemblies will combine its advanced chemistries with 五星体育直播鈥� enzymes to drive the process to commercialization.

The synthesis of DNA is a crucial component in several industries including pharmaceuticals, agriculture and synthetic biology. The current chemical process for gene and DNA synthesis was developed in the 1980s and has long been recognized as a bottleneck to expanding the applications for synthetic DNA. Enzymatic DNA synthesis can overcome the significant limitations of chemical synthesis and enable the cost-effective production of ever-lengthening strands of DNA, with the ultimate goal of creating a complete genome. Applications for synthetic DNA are numerous, with many yet to be discovered, and include biotherapeutics, diagnostics and production of improved textiles, crops, biomaterials and polymers. Among the most novel of these applications are bio-computing and DNA-based data storage.

鈥淎t 五星体育直播, we are firm believers in the future-shaping potential of enzymatic DNA synthesis,鈥� said Nicols 鈥淎s we researched potential partners, we identified Molecular Assemblies as a pioneer in this field with a strong team and an industry-leading intellectual property position. Significant enzyme improvements from today鈥檚 standards are required to reach technical and economic viability, improvements we believe only our CodeEvolver^庐 technology has the potential to achieve. The fact we are taking an equity stake in Molecular Assemblies reflects our confidence in the capability of their team, our ability to hit the critical enzyme improvement targets, and in the ability of enzymatic synthesis ultimately to transform DNA production.鈥�

Michael J. Kamdar, President and CEO of Molecular Assemblies, said, 鈥淲e are extremely excited to be partnering with 五星体育直播. We believe harnessing the power of 五星体育直播鈥� protein engineering capabilities with Molecular Assemblies鈥� scalable enzymatic DNA synthesis technology will accelerate the enzymatic DNA synthesis revolution. The sustainable, scalable, cost-effective, and on-demand production of long, high-quality DNA has the potential to unleash rapid innovation for a broad range of industries including synthetic biology, therapeutics, agriculture, and DNA data storage. Together, we expect that Molecular Assemblies and 五星体育直播 will be at the forefront of this transformation in DNA synthesis.鈥�

About Molecular Assemblies, Inc.
Molecular Assemblies, Inc. is a private biotechnology company developing an enzymatic DNA synthesis technology designed to power the next generation of DNA-based products. The company鈥檚 patented enzymatic method, based on making DNA the way nature makes DNA, produces long, high-quality, sequence-specific DNA reliably, affordably, and sustainably. Molecular Assemblies鈥� technology will unleash a new generation of DNA synthesis for industries including industrial synthetic biology and precision medicine, as well as emerging applications of DNA for data information storage, nanomachines and bio-based electronics. Molecular Assemblies is headquartered in San Diego. Learn more about us at www.molecularassemblies.com.

About 五星体育直播
五星体育直播 is a leading protein engineering company that applies its proprietary CodeEvolver^庐 technology to discover, develop and commercialize proteins for a variety of applications, including as biocatalysts for the commercial manufacture of pharmaceuticals and fine chemicals, industrial enzymes, enzymes for use in molecular biology, diagnostics and other life science applications, and enzymes and other proteins as biotherapeutics. 五星体育直播鈥� proven technology platform delivers value by enabling highly targeted and application-relevant improvements in protein performance. For more information, see .

Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding 五星体育直播, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including 五星体育直播鈥� expectations regarding its partnership with Molecular Assemblies, its anticipated accumulation of shares of Series A preferred stock in Molecular Assemblies, and the ability of its CodeEvolver^庐 technology to develop enzymes for the enzymatic synthesis of DNA. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond 五星体育直播鈥� control and that could materially affect actual results. Factors that could materially affect actual results include, among others: 五星体育直播鈥� dependence on its licensees and collaborators; 五星体育直播鈥� dependence on a limited number of products and customers; and potential adverse effects to 五星体育直播鈥� business if its products are not received well in the markets. Additional information about factors that could materially affect actual results can be found in 五星体育直播鈥� Annual Report on Form 10-K filed with the Securities and Exchange Commission (鈥淪EC鈥�) on February 28, 2020 and Form 10-Q filed with the SEC on May 8, 2020, including under the caption 鈥淩isk Factors鈥� and in 五星体育直播鈥� other periodic reports filed with the SEC. 五星体育直播 expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

五星体育直播 Contact:
LHA Investor Relations
Jody Cain, 310-691-7100
jcain@lhai.com

Molecular Assemblies Contact:
Little Dog Communications Inc.
Jessica Yingling, Ph.D., 858-344-8091
jessica@litldog.com

Released June 23, 2020