Nestlé Health Science was granted this option under the Development, Option and Licensing Agreement with Codexis announced in October 2017.
CDX-6114 is Codexis’ first internally developed biotherapeutic product candidate.
The exercise of the option triggers a $3 million milestone payment. Upon exercising its option, Nestlé Health Science has now assumed all responsibility for future clinical development and commercialisation of CDX-6114.
“We are proud to have discovered an enzyme that shows promise as a novel treatment for patients with PKU and are delighted that Nestlé Health Science has elected to take on its continued development,” said Codexis President and CEO John Nicols.
“The exercise of this option further validates our strategy to partner biotherapeutics discovered using our CodeEvolver protein engineering platform ... and to do so early in the process of clinical development.”
“We are excited about taking the next step in developing this enzyme that could lead to the first orally available and convenient therapeutic option for those afflicted with PKU,” said Greg Behar, CEO, Nestlé Health Science.
“PKU is the result of a missing enzyme and, left untreated, it can lead to intellectual disability, seizures and cognitive and behavioural disabilities."
"Current treatment options are limited, with most patients managing PKU through restrictive diets. CDX-6114 is a therapeutic enzyme candidate that compensates for the missing natural enzyme with the advantage of being orally dosed and stable in the gastrointestinal tract, which presents an attractive option for the management of the disease.”