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Codexis, Inc. (JOBS), Arch Pharmalabs Limited Announce Expanded Collaboration



8/26/2008 6:27:06 AM

REDWOOD CITY, Calif. and MUMBAI, India, Aug. 25 /PRNewswire/ -- Codexis, Inc., a leader in biocatalysis technology, and Arch Pharmalabs Limited, a leading Indian active pharmaceutical ingredients (APIs) and intermediates manufacturer, today announced a major new strategic collaboration, expanding their three-year partnership in pharmaceuticals manufacturing.

Codexis, based in Redwood City, CA, will offer multiple pharmaceutical intermediates and active pharmaceutical ingredients (APIs) made with its proprietary biocatalytic processes to both innovator and generic drug manufacturers. Sales in India will be through its subsidiary, Codexis Laboratories India Private Limited. Arch, which is based in Mumbai, India and has ten facilities throughout the country, will be Codexis' exclusive manufacturer for these products. The two companies will also co-market products.

"Codexis and Arch will now offer a broad range of competitively-priced drug ingredients to the global pharmaceutical industry. We believe this collaboration offers a major opportunity for growth," said Alan Shaw, Ph.D., President and Chief Executive Officer of Codexis. "Market drivers for both the innovator and generics sectors of the global pharmaceutical market are converging, as both sectors accelerate their search for high quality manufacturing at the lowest possible cost. This new agreement is targeted at addressing this convergence, coupling proven biocatalysis technology with large-scale manufacturing capability. We are very pleased to be broadening our collaboration with Arch, which has become an important strategic partner."

"Codexis and Arch have built a successful partnership over three years based on anticipating customer needs and consistently meeting them in the rapidly-growing global market for high quality, low-cost pharmaceutical intermediates and APIs," said Ajit Kamath, Chairman and Managing Director, Arch Pharmalabs Limited. "We are now well-positioned to build on this success, serving the growing global demand for cost-effective, high-quality pharmaceuticals."

Products to be sold under the new collaboration include the full range of intermediates used to manufacture generic atorvastatin, as well as the API itself. Atorvastatin is the active ingredient in Lipitor, the world's largest selling drug used to lower cholesterol. Other planned future products include generic intermediates and APIs for montelukast (asthma/allergy) and esomeprazole (ulcers), as well as a key intermediate used in the manufacture of the carbapenem class of antibiotics. Codexis and Arch began their manufacturing collaboration in 2005.

Arch Pharmalabs Limited is a Mumbai, India-based company and leader in the manufacture of active pharmaceutical ingredients and intermediates. Arch was the recipient of the 2006 CNBC-ICICI Emerging India award in the Pharmaceuticals & Chemicals category.

Codexis is a leading developer of proprietary biocatalysts that the company believes have the potential to revolutionize chemistry-based manufacturing processes across a variety of industries. The company has used its technology platform to enable biocatalyst-based commercial-scale drug manufacturing processes and delivered biocatalysts and drug products to some of the world's leading pharmaceutical companies. Codexis has a funded research collaboration in the biofuels market, and the company is pursuing funded collaborations in several other bioindustrial markets, including carbon management, water treatment and chemicals.

In addition to statements of historical facts or statements of current conditions, this press release contains forward-looking statements, including with respect to the joint development of pharmaceutical products by Codexis and Arch, the commercial success of those products and the overall growth of Codexis' pharmaceutical business. Actual results may differ materially from current expectations based on risks and uncertainties affecting our business, including, without limitation, with respect to: the transfer of Codexis technologies to Arch; the scale up of Arch manufacturing operations; the willingness of generics manufacturers to purchase products from us and Arch on favorable terms, if at all; product liability and other risks relating to commercializing growth; and the challenges of managing growth and establishing effective operations in India. The reader is cautioned not to unduly rely on the forward-looking statements contained in this press release. We expressly disclaim any intent or obligation to update these forward-looking statements, except as required by law. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed in our Registration Statement on Form S-1/A, filed with the SEC on August 4, 2008, and available at http://edgar.sec.gov.

Contact: For Codexis: Lyn Christenson, lyn.christenson@codexis.com, 650-421-8144 or Justin Jackson, Burns McClellan, jjackson@burnsmc.com, 212-213-0006.

For Arch: Ajit Kamath, Chairman and Managing Director, Arch Pharmalabs Limited, ajitkamath@archpharmalabs.com, + 91 22 28470555.

CONTACT: Lyn Christenson of Codexis, lyn.christenson@codexis.com,
+1-650-421-8144; or Justin Jackson of Burns McClellan,
jjackson@burnsmc.com, +1-212-213-0006, both for Codexis; or Ajit Kamath,
Chairman and Managing Director of Arch Pharmalabs Limited,
ajitkamath@archpharmalabs.com, +91-22-28470555

Web site: http://www.codexis.com/


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