Codexis Congratulates Directed Evolution Pioneers on Draper Prize

REDWOOD CITY, Calif., Jan. 11, 2011 /PRNewswire/ -- Codexis, Inc. (Nasdaq: CDXS) congratulates Frances Arnold, Ph.D. and Willem P.C. "Pim" Stemmer, Ph.D., 2011 recipients of the prestigious Charles Stark Draper Prize from the National Academy of Engineering for their individual work in directed evolution.  Directed evolution allows researchers to guide the creation of certain properties in proteins and cells.  It is used today in labs around the world and is the basis of the Codexis core technology platform.

According to the NAE announcement, "The Draper prize is a $500,000 annual award honoring engineers whose accomplishments have significantly benefitted society, for directed evolution, a method used worldwide for engineering novel enzymes and biocatalytic processes for pharmaceutical and chemical processes."  The announcement further said that "nearly every industrial product and application involving proteins relies on directed evolution."

Drs. Stemmer and Arnold contributed to development of directed evolution through separate, individual research.  Dr. Stemmer, co-founder of Maxygen, developed the DNA shuffling directed evolution technology which became the core technology for Codexis when it was spun out of Maxygen in 2002.  He is currently CEO of Amunix, a protein pharmaceuticals company.  In October 2010, Codexis acquired the Maxygen directed evolution intellectual property portfolio.  Dr. Arnold, who served as a scientific consultant to Codexis, is the Dick and Barbara Dickinson Professor of Chemical Engineering and Biochemistry at the California Institute of Technology.  For more information on their research and the NAE award, see http://www.nae.edu/awards/.

"We salute Pim and Frances for their groundbreaking work in biotechnical research, and congratulate them for this high honor," said Alan Shaw, Ph.D., President and Chief Executive Officer.  "Directed evolution has become a vital tool in solving real-world problems, building on their pioneering research.  Over the last nine years, Codexis has built on the original core DNA shuffling technology, in two significant ways:  further technology base advancement and expansion, and successful commercialization.  We are gratified that global partners including Merck, Pfizer and Shell are today capitalizing on the power of directed evolution."

Codexis is a clean technology company.  Codexis develops optimized biocatalysts that make industrial processes faster, cleaner and more efficient.  Codexis' technology is commercialized with leading global pharmaceutical companies and in development for advanced biofuels with Shell.  Other potential markets include carbon capture, water treatment and chemicals. 

Forward-Looking Statements

This press release contains forward-looking statements relating to our technology platform in directed evolution.  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 our control and that could materially affect actual results.  Factors that could materially affect actual results can be found in Codexis' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 4, 2010, including under the caption "Risk Factors."  Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Contact: Media; Lyn Christenson, [email protected], 650-421-8144 or Saskia Sidenfaden, [email protected], 212-827-3771.  Investors; Robert Lawson, [email protected], 650-421-8137

SOURCE Codexis, Inc.