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Codexis, Merck Extend Supply Pact For Enzyme Used To Manufacture Sitagliptin

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Codexis, Merck Extend Supply Pact For Enzyme Used To Manufacture Sitagliptin
  • Codexis Inc (NASDAQ: CDXS) has amended and extended its agreement with Merck & Co Inc (NYSE: MRK) to license and supply a proprietary enzyme used to manufacture sitagliptin.
  • Sitagliptin is an active pharmaceutical ingredient (API) in Merck's two anti-diabetic medications, Januvia and Janumet.
  • Codexis and Merck leveraged Codexis' CodeEvolver enzyme engineering platform technology to design an enzyme to serve as a biocatalyst in the sitagliptin manufacturing process. 
  • In 2012 Codexis and Merck entered into a supply agreement for the enzyme and in 2015 signed a multi-year extension, which was to expire in February 2022. 
  • The subsequent extension and amendment are for the license and supply of the proprietary enzyme through December 31, 2026. 
  • The extension can be renewed for an additional five years.
  • Price Action: CDXS stock closed at $27.07 on Thursday, while MRK stock is up 0.56% at $74.23 during the premarket session on the last check Friday.
 

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Posted-In: Briefs DiabetesBiotech News Health Care Contracts Small Cap General

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