REDWOOD CITY, Calif., March 13, 2014 (GLOBE NEWSWIRE) -- Codexis, Inc. (Nasdaq:CDXS), a leading developer of biocatalysts for the pharmaceutical and fine chemical industries, today announced the sale of its subsidiary in Hungary to Intrexon Corporation. The transaction closed on March 13, 2014, with a purchase price of $1.5 million. No proprietary Codexis materials or intellectual property were included in the transaction.
"We are very pleased with this transaction," said John Nicols, President and CEO of Codexis. "We were able to transfer our dedicated and talented employees in Hungary to Intrexon and to monetize one of our assets as part of the wind down of our biofuels business."
About Codexis, Inc.
Codexis, Inc. is a leading developer of biocatalysts for pharmaceutical and fine chemical production. Codexis' proven technology enables scale-up and implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable process development – from research to manufacturing. For more information, see www.codexis.com.