Codexis Introduces CodeXyme™ Cellulase Enzyme Product Line for Biobased Chemicals

REDWOOD CITY, Calif., Dec. 7, 2011 /PRNewswire/ -- Codexis, Inc. (Nasdaq: CDXS) today introduced the CodeXyme™ Cellulase enzyme product line to convert biomass to sugar, enabling cost effective production of sustainable products.

"The launch of the CodeXyme™ Cellulase product line introduces Codexis as a player in the global cellulase enzyme market," said Alan Shaw, Ph.D, President and Chief Executive Officer.  "CodeXyme™ Cellulase enzymes will be transformational and enabling.  Historically, biobased processes have been suboptimal due to the limitations of commercially available enzymes.  Codexis will deliver superior, customized cellulase enzymes that will enable our partners to deploy commercially viable second generation processes." 

The market for biomass-processing cellulase enzymes is projected to be one of the largest industrial enzyme markets.  An increasing number of companies are pursuing the production of higher value chemicals, such as CodeXol™ Detergent Alcohols, made from sugar rather than petroleum.  CodeXyme™ Cellulase enzymes have the potential to deliver lower-cost sugar from abundant, locally available feedstocks, enabling an economically viable biobased chemical industry.  Codexis is in the final stages of customization of CodeXyme™ Cellulase enzymes with current partners. The company expects to have commercial samples for customers in the chemicals industry broadly available in the second half of 2012.

This CodeXyme™ Cellulase product introduction is the third announcement Codexis has made in the area of cellulase enzyme development and deployment this year.  In July, Codexis announced a broad collaboration with Chemtex, an M&G Group company, to develop and produce sustainable detergent alcohols for use in the household products market.  In the collaboration, CodeXyme™ Cellulase enzymes will be used to produce second generation detergent alcohols from cellulosic (non-food) biomass.  In May, Codexis announced successful 20,000 liter production of cellulase enzymes, which was the company's first industrial-scale manufacture of a customized enzyme product using the Codexis CodeXporter™ enzyme production platform.

Codexis is an industrial biotechnology company developing high value sustainable chemicals, clean fuels, cost effective pharmaceutical processes and renewable bioindustrial ingredients to make industry more efficient, productive and profitable.  Partners and customers include global leaders such as Shell, Merck and Pfizer.  For more information, see www.codexis.com.

Codexis Forward-Looking Statements

This press release contains forward-looking statements relating to the launch, capabilities and potential commercialization of Codexis' CodeXyme™ Cellulase enzymes. 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. Important factors known to Codexis that could materially affect actual results include risks that potential biobased chemical products will not be accepted by customers; Codexis may be unable to successfully commercialize its technology in biofuels or biobased chemicals; fluctuations in the price of and demand for fossil fuel-based products may reduce demand for biofuels and biobased chemicals; commercialization of biofuels and biobased chemicals derived from cellulose may not be feasible; Codexis' business opportunities in the biofuel and biobased chemical markets may be dependent on the availability and price of renewable feedstocks; Codexis' ability to maintain license rights to the expression system that produces CodeXyme™ Cellulase enzymes; and Codexis' ability to compete in the detergent alcohols market.  Additional 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 7, 2011 including under the caption "Risk Factors." Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Contacts:

Media:  Lyn Christenson, [email protected], 650.421.8144 or Saskia Sidenfaden, [email protected], 212.827.3771 Investors: Henk Adriaenssens, [email protected], 650.421.8331.

SOURCE Codexis, Inc.