Exhibit 99.1
Casdin Capital Invests $50 Million in Codexis to Accelerate Strategic Growth Initiatives
Investment to fund strategic growth initiatives across the diverse and expanding synthetic biology end market
REDWOOD CITY, Calif. (June 20, 2019) – Codexis, Inc. (Nasdaq: CDXS), a leading synthetic biology company, announces that Casdin Capital, LLC, a New York City-based life science-focused investment firm and current stockholder of Codexis, has invested approximately $50 million in Codexis through the purchase of shares of Codexis’ common stock in a private placement.
“The value and the versatility of Codexis’ business and engineering platform enables a diverse set of high-growth capabilities across multiple markets,” said Codexis President and CEO John Nicols. “Casdin has long recognized our technology and leadership capability and, with their latest investment, we have significant financial flexibility to capitalize on a variety of growth opportunities.”
“The ability to drive performance and economic advantages through the intelligent engineering of enzymes is now a critical capability across a diverse set of end markets,” said Eli Casdin, CEO of Casdin Capital. “We believe that Codexis is one of the few proven management teams and technology platforms capable of capturing this fast-growing market demand and are excited to catalyze their strategic growth initiatives.”
About the Private Placement
On June 20, 2019, Codexis sold 3,048,780 shares of common stock at a price per share of $16.40 in the private placement. The shares of common stock sold in this private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and were sold in a private placement pursuant to Regulation D of the Securities Act. The securities may not be offered or sold in the United States absent registration or pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. Codexis has agreed to file a registration statement covering the resale of the shares of common stock acquired by Casdin within 180 days, subject to certain exceptions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.
About Casdin Capital
Casdin Capital LLC was founded in 2012 and brings a deep understanding, expertise and long-term perspective to financing the next generation of life science innovation. For more information, please visitcasdincapital.com.
About Codexis, Inc.
Codexis is a leading protein engineering company that applies its proprietary CodeEvolver®technology to develop proteins for a variety of applications, including as biocatalysts for the commercial manufacture of pharmaceuticals, fine chemicals and industrial enzymes, and enzymes as biotherapeutics and for use in molecular diagnostics. Codexis’ proven technology enables improvements in protein performance, meeting customer needs for rapid, cost-effective and sustainable manufacturing in multiple commercial-scale implementations of biocatalytic processes. For more information, seewww.codexis.com
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