GSK GSK plc

Codexis Inc. (CDXS), which develops bio-catalysts for pharmaceutical and chemical production, has granted GlaxoSmithKline PLC (GSK) a license to use its CodeEvolver protein technology.

The license lets Glaxo use Codexis' platform technology to develop enzymes for use in pharmaceutical and health-care products.

Codexis said it is eligible to receive up to $25 million over a period of about two years, $6 million of which will be paid upfront and $19 million that is subject to completion of technology transfer milestones.

The company could receive additional milestone payments of $5.75 million to $38.5 million per project, depending on successful application of the technology.

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Write to Josh Beckerman at josh.beckerman@wsj.com

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