Issue Date: July 23, 2012
Codexis Rejiggers Its Deal With Shell
Codexis is renegotiating its collaboration with Shell to allow it to develop and sell cellulase enzymes in the biofuels area, except in Brazil. Currently, only Shell can commercialize the enzymes for biofuels, while Codexis can sell them for other applications. In addition, the partners have agreed that as of Aug. 31, Shell can choose to stop funding between 13 and 48 full-time equivalent employees (FTEs) with only one day’s notice, instead of 90 days currently. If that happens, Codexis anticipates taking cost-cutting steps. As of May 10, Shell supports 116 FTEs at Codexis.
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