REDWOOD CITY, Calif., Jan. 31 (UPI) -- Codexis said Tuesday it has extended its research deal with Bristol-Myers Squibb.
The privately held company also announced it would receive a milestone payment for successfully completing the program's research milestone but did not disclose the amount of the payment.
Under the extended agreement, Codexis said it would get additional undisclosed research funding and another payment -- at Bristol-Myers Squibb's option -- upon delivery of an enzyme for pilot-scale testing at a Bristol-Myers Squibb facility.
The company did not disclose additional terms of the extended deal.
Codexis entered into the research agreement with the pharmaceutical giant last May.
The research pact centers on improving biocatalyst productivity for an undisclosed product candidate in Bristol-Myers Squibb's pipeline, Codexis said.
The deal involves use of Codexis' proprietary MolecularBreeding technology, the company said.
