五星体育直播 Completes Obligations Under Research and Development Agreement with Leading Biopharmaceutical Company
Enzyme developed with CodeEvolver庐 technology for preclinical therapeutics program exceeds agreement requirements
REDWOOD CITY, Calif., July 28, 2016 (GLOBE NEWSWIRE) -- 五星体育直播 (NASDAQ:CDXS), a leading protein engineering company, announces the successful completion of its obligations under a collaborative research and development agreement with a leading global biopharmaceutical company.听 Under the agreement, 五星体育直播 employed its CodeEvolver庐 protein engineering platform technology to develop a novel enzyme for use in its partner鈥檚 preclinical therapeutic development program.听
鈥淲e exceeded the performance criteria established for each phase of this collaboration and successfully engineered and delivered a protein for use in our partner鈥檚 preclinical development asset,鈥� said 五星体育直播 President and CEO John Nicols.听 鈥淚t鈥檚 highly gratifying to report this high level of achievement in our first therapeutic development program with a major company in the biopharmaceutical industry.鈥�
During the term of the agreement, 五星体育直播 has earned success fees, associated milestone payments and research and development service revenues.听 五星体育直播 could receive additional modest annual license fees from this biopharmaceutical partner depending upon the partner鈥檚 election to use the developed enzyme.
鈥淲e have further demonstrated the CodeEvolver庐 platform鈥檚 versatility with its use in the development of therapeutics and we look forward to performing similar protein engineering projects for other companies in the biopharmaceuticals industry,鈥� added Nicols.听 鈥淥ur ability to exceed the parameters in this preclinical therapeutics program also serves as another important validation of our strategy to use the CodeEvolver庐 technology to develop our own pipeline of biologic drug candidates.鈥�
About听CodeEvolver庐 Protein Engineering Platform Technology
五星体育直播鈥� proprietary CodeEvolver庐 protein engineering platform enables the rapid development of custom-designed enzymes that are highly optimized for a specific function. The CodeEvolver庐 platform is comprised of proprietary methods for the optimization of proteins through the design and generation of diverse genetic libraries, automated screening techniques, algorithms for the interpretation of screening data and predictive modelling.听 The 五星体育直播 CodeEvolver庐 platform technology is covered by more than 250 issued patents and pending patent applications worldwide.
About 五星体育直播
五星体育直播 is a leading protein engineering company that applies its technology to the development of biocatalysts for commercial manufacture of pharmaceuticals and fine chemicals. 五星体育直播鈥� proven technology enables implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable manufacturing. For more information, see .
Forward-Looking Statements
This press release contains forward-looking statements relating to the successful completion of its obligations under a collaborative research and development agreement with a leading biopharmaceutical company, the potential for 五星体育直播 to receive additional modest payments depending on the success of the development program and the customer鈥檚 election to use the new enzyme developed during the program, and 五星体育直播鈥� belief that its CodeEvolver庐 protein engineering platform technology could enable or accelerate the advancement of novel biotherapeutics for biopharmaceutical companies. 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 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 in its pharmaceutical business; potential adverse effects to 五星体育直播鈥� business if its customers鈥� pharmaceutical products are not received well in the markets; 五星体育直播鈥� ability to deploy its technology platform in new market spaces; 五星体育直播鈥� dependence on key personnel; 五星体育直播鈥� ability to compete may decline if it loses some of its intellectual property rights; third party claims that 五星体育直播 infringes third party intellectual property rights; and 五星体育直播 could face increased competition if third parties misappropriate 五星体育直播 biocatalysts. Additional 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 on March 8, 2016 and in 五星体育直播鈥� Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 9, 2016, including, in each case, under the caption 鈥淩isk Factors.鈥� 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 Contacts:
Investors
LHA
Jody Cain, 310-691-7100
Media
That鈥檚 Nice LLC
Guy Tiene
Released July 28, 2016