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Codexis Cuts Staff After Shell Pulls Funding

8:57 AM MDT | September 14, 2012

Enzyme maker Codexis (Redwood City, CA) says it is cutting approximately 133 employees after Shell terminated their long-standing, royalty-bearing biofuels collaboration. Shell will pay Codexis the approximately $7.5 million that would have been due under the research agreement, which was set to expire November 1, and Codexis will have no further research and development obligations under that agreement. Shell and Codexis first signed the collaboration and licensing agreement in 2006, and over the years Shell had committed significant funding to Codexis’...

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