Business
The SynBio Innovation Accelerator, a Collaboration between Codexis and Casdin Capital, Enables $10 million Investment in Molecular Assemblies, Inc.
Funding to accelerate MAI’s go-to-market strategy as the enzyme engineering phase nears completion Represents the second early-stage company investment
About this update from Codexis, Inc.
[{"type":"text","content":"Funding to accelerate MAI’s go-to-market strategy as the enzyme engineering phase nears completion Represents the second early-stage company investment enabled by the SynBio Innovation Accelerator REDWOOD CITY, Calif., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Codexis, Inc. (Nasdaq: CDXS), a leading enzyme engineering company enabling the promise of synthetic biology, and Casdin Capital, a leading life science investor, today announced a combined $10 million investment enabled by their SynBio Innovation Accelerator in the Series B funding round of Molecular Assemblies, Inc. (MAI), a private life sciences company developing an enzymatic DNA synthesis technology designed to power the next generation of DNA-based products. Codexis and MAI are established partners in a collaboration to develop differentiated and cost-effective solutions to commercialize the enzymatic synthesis of DNA. Since the partnership's inception in June of 2020, Codexis has been applying its CodeEvolver® platform technology to improve the DNA polymerase enzymes that are critical for enzymatic DNA synthesis; Molecular Assemblies has been combining its advanced chemistries with Codexis’ enzymes to drive the process to commercialization. Codexis has a seat on the MAI board of directors and is now the company’s second largest shareholder. “As a leader in synthetic biology, with commercialized products already transforming the sustainable manufacturing of pharmaceuticals, life science tools, and food and beverages, Codexis is in a unique position to leverage our SynBio Innovation Accelerator with Casdin Capital to identify and support promising earlier-stage companies in the field,” said John Nicols, President and CEO of Codexis. “Molecular Assemblies is a pioneer in the field of enzymatic DNA synthesis, and this additional investment in the company underscores our belief in our groundbreaking collaboration to enable the cost-effective production of synthetic DNA. Substantial enzyme improvements have been needed to unlock the potential of enzymatic DNA synthesis, and I am proud to share that these are on track to be achieved shortly.” “We are excited to work with Codexis and Casdin Capital,” said Michael J. Kamdar, President and CEO of Molecular Assemblies. “The power of our collaboration with Codexis and the support from SynBio Innovation Accelerator for our Series B fina...