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Codexis and Bristol-Myers Extend Research Agreement

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Codexis, Inc. has announced it has extended the terms of an existing research agreement with Bristol-Myers Squibb Company.

Codexis also announced that it will receive an undisclosed milestone payment for having successfully achieved the program's research milestone.

The research agreement was announced May 24, 2005 and focused on improving biocatalyst productivity for an undisclosed product candidate in the Bristol-Myers Squibb pipeline using Codexis' proprietary MolecularBreeding™ directed evolution platform.

Under the extended term of the agreement Codexis will receive additional undisclosed research funding and an additional payment, at Bristol-Myers Squibb's option, upon delivery of an enzyme for pilot-scale testing at Bristol-Myers Squibb.

"We are delighted to announce the extension of the term of this agreement with BMS, one of the world's leading human therapeutics companies," said Alan Shaw, Ph.D., Codexis President and Chief Executive Officer.