The new agreement provides Codexis a royalty-bearing, non-exclusive license to develop, manufacture, use and sell CodeXyme
cellulase enzymes used in bio-fuels across the globe barring Brazil.
The company already holds the rights for use of cellulase enzymes in other fields.
Codexis CEO and chairman John Nicols remarked that the company was in discussions with Raízen to commercialize its cellulase enzymes for second generation ethanol production in Brazil, a market that remains the company’s focus.
"Codexis has developed some of the most cost effective and competitively advantaged cellulase enzymes in the world. Securing the rights to market these enzymes to advanced biofuel companies outside of Shell is a major milestone for the company," added Nicols.
CodeXyme was developed by Codexis for Shell under the Amended and Restated Collaborative Research Agreement signed by the two companies in November 2006. The new agreement terminates the existing one.
Under the new agreement, Shell, in exchange of granting the licenses will receive percentage royalty in single-digits, on net sales of CodeXyme;, while agreeing to refrain from selling any cellulase enzymes to third party biofuel customers using technology developed by Codexis.
