Codexis Appoints Carole Cobb, MBA, to Strategic Advisory Board

Cobb adds RNA industry operations and commercial expertise to support continued development of ECO Synthesis™ manufacturing platform

REDWOOD CITY, Calif., April 11, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the appointment of Carole Cobb, MBA, to the Company’s Strategic Advisory Board (SAB). Ms. Cobb is the former Chief Operating Officer at GreenLight Biosciences, a bio-performance company developing RNA-based solutions for agriculture and pharmaceutical applications. Her deep biotechnology experience includes leadership roles across fermentation-based commercial manufacturing, process development, plant operations and global supply chain management.

“We are honored to have Carole join Codexis as the newest member of our Strategic Advisory Board,” said Stefan Lutz, PhD, Senior Vice President of Research at Codexis. “With nearly four decades of operations and commercial experience, much of which has been focused on advancing RNA-based solutions, Carole will prove to be a valuable resource as we continue to make technical progress on the ECO Synthesis™ manufacturing platform, build out our ECO Synthesis™ Innovation Lab, and continue commercial preparations. With our inaugural SAB meeting being held at month’s end, Carole joins at an opportune time as we prepare for multiple exciting milestones in 2024 and beyond.”

Ms. Cobb added, “As someone who has spent much of my career focused on novel product development, manufacturing technologies and commercialization, I am thrilled to be partnering with Codexis on the advancement of a truly innovative technology platform. We have the potential to impact treatment paradigms for tens of millions of patients by enabling access to emerging RNAi therapeutics. I look forward to meeting the rest of the SAB in the coming weeks and working alongside Codexis on the strategy to bring this technology to market.”

Ms. Cobb has forty years of bio-based industry experience and is currently a business consultant for biotechnology companies. Most recently, she served as the Chief Operating Officer at GreenLight Biosciences where she led the Company’s efforts to scale their proprietary bioprocessing methods. Prior to joining GreenLight, Ms. Cobb served as Chief Operating Officer at Cobalt Technologies. Earlier in her career, Ms. Cobb held senior leadership roles at Danisco A/S and Genencor International. She holds a Master of Business Administration from the University of Rochester and Bachelor of Science degrees in Chemical Engineering, Biochemistry and Cell & Molecular Biology from the State University of New York at Buffalo.

About the Codexis Strategic Advisory Board

Codexis’ Strategic Advisory Board (SAB) was established in 2023 and is comprised of experts across oligonucleotide synthesis, manufacturing and commercialization. The SAB plays a pivotal role in guiding the Company’s strategic direction and offers valuable insights to inform the continued development of the ECO Synthesis™ manufacturing platform. Current members include John Maraganore, PhD, founder and former Chief Executive Officer of Alnylam Pharmaceuticals; Masad Damha, PhD, Distinguished James McGill Professor at McGill University; Jim Lalonde, PhD, biotechnology consultant for start-up companies in enzyme engineering and former Senior Vice President of Research and Development at Codexis; and Carole Cobb, MBA, biotechnology consultant and former Chief Operating Officer at GreenLight Biosciences. More information about Codexis’ SAB can be found on the About Us section of the Company’s corporate website, located here.

About the ECO Synthesis™ Manufacturing Platform

Ribonucleic acid (RNA) as a therapeutic modality has gained tremendous traction in recent years with the growing number of messenger RNA (mRNA) vaccines and small interfering RNA (siRNA) candidates advancing in clinical studies. However, large-scale production of RNA interference (RNAi) therapeutics using traditional chemical synthesis faces complex challenges in nucleic acid quality and quantity, as well as overall economics. With over 450 RNAi therapies currently in clinical development, including more than 40 assets in Phase 2 and Phase 3 clinical trials targeting disease indications impacting millions of patients, RNAi therapeutic demand is projected to outpace current production capabilities by the end of the decade. Codexis’ proprietary ECO Synthesis™ manufacturing platform is being designed to address these scalability and cost limitations by potentially enabling the commercial-scale manufacture of RNAi therapeutics through an enzymatic route. The Company achieved gram-scale synthesis in December 2023, where it demonstrated the preparative-scale manufacture of an oligonucleotide, comprised of the modified nucleotide building blocks typically used in RNAi therapeutics, under process-like conditions. Codexis remains on track to initiate early access customer testing in the second half of 2024.

About Codexis

Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver^® technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of proteins. Codexis enzymes solve for real-world challenges associated with small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit https://www.codexis.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “suggest,” “target,” “on track,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. To the extent that statements contained in this press release are not descriptions of historical facts, they are forward-looking statements reflecting the current beliefs and expectations of management, including but not limited to statements regarding whether Codexis will be able to, and the timing of it entering pre-commercial testing of its ECO Synthesis™ manufacturing platform with select customers in 2024; other anticipated technical and commercial milestones related to the ECO Synthesis™ manufacturing platform; the potential of the ECO Synthesis™ platform, including its ability to drive improvements relative to traditional chemical synthesis related to scalability, cost limitations, waste and overall economics, and it providing an opportunity for Codexis to efficiently capture meaningful market share; expectations regarding Codexis’ planned ECO Synthesis™ Innovation Lab; and expectations regarding the potential of and future demand for RNAi therapeutics. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Codexis’ control and that could materially affect actual results. Factors that could materially affect actual results include, among others: Codexis’ dependence on its licensees and collaborators; if any of its collaborators terminate their development programs under their respective license agreements with Codexis; Codexis may need additional capital in the future in order to expand its business; if Codexis is unable to successfully develop new technology such as its ECO Synthesis™ platform and dsRNA; Codexis dependence on a limited number of products and customers, and potential adverse effects to Codexis’ business if its customers’ products are not received well in the markets; if Codexis is unable to develop and commercialize new products for its target markets; if competitors and potential competitors who have greater resources and experience than Codexis develop products and technologies that make Codexis’ products and technologies obsolete; if Codexis is unable to accurately forecast financial and operational performance; and market and economic conditions may negatively impact Codexis business, financial condition and share price. Additional information about factors that could materially affect actual results can be found in Codexis’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 28, 2024, including under the caption “Risk Factors,” and in Codexis’ other periodic reports filed with the SEC. Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

For More Information

Investor Contact
Carrie McKim
(336) 608-9706
ir@codexis.com

Media Contact
Lauren Musto
(650) 421-8205
media@codexis.com

Released April 11, 2024