Friday, October 29, 2010

Codexis Buys IP from Maxygen

Redwood City-based Codexis said Thursday that it has acquired the directed evolution intellectual property portfolio of Maxygen, in a deal worth $20M in cash. According to Codexis, the move means the firm no longer has any obligation to make royalty payments to Maxygen relating to its biofuels and energy products. Codexis had originally licensed the technology from Maxygen in 2002, when it was spun out of the company. Codexis is a developer of biocatalysts, used to improve biofuels and chemical processes.