Codexis +84% AH on Glaxo licensing pact

|By:, SA News Editor

Codexis (NASDAQ:CDXS) +84.4% AH on news it granted a license to GlaxoSmithKline (NYSE:GSK) to use its CodeEvolver platform technology to develop enzymes for use in pharmaceutical and health care products.

CDXS says it is eligible to receive up to $25M over a period of about two years, and could receive additional milestone payments of up to $38.5M per project, depending on successful application of the technology.