Codexis

What Codexis does

Codexis (NASDAQ: CDXS) is a publicly traded biosciences company founded in 2002 and headquartered in Redwood City, California, that engineers enzymes for pharmaceutical manufacturing and therapeutic applications. The company operates two proprietary technology platforms: CodeEvolver, an AI/ML-driven enzyme engineering platform that integrates machine learning, bioinformatics, and high-throughput screening with 20+ years of proprietary training data to design, build, and test enzyme variants in as little as one week; and ECO Synthesis, an enzymatic RNA manufacturing platform that replaces traditional solid-phase oligonucleotide synthesis (SPOS) with sequential enzymatic synthesis and ligation-based assembly workflows under aqueous conditions, achieving 99% coupling efficiency, greater than 75% yield, and greater than 90% purity.

The company monetizes through multiple revenue streams including direct enzyme product sales (screening kits such as Codex ATA, KRED, Esterase, ERED, NIT, and MicroCyp panels), pharma biocatalysis services for API synthesis, RNA manufacturing services for therapeutic oligonucleotides (siRNA, gRNA, ASOs) including preclinical and GLP/clinical supply, technology licensing and transfer agreements, and supply assurance agreements. Its go-to-market is enterprise field sales supported by dedicated technical program managers, with active industry conference presence (TIDES USA/Europe, CPHI Europe, RNA Leaders USA Congress) and a global CDMO partner network for scaled GMP manufacturing capacity. Primary customer segments are pharmaceutical and biotech RNA therapeutics developers, pharmaceutical API manufacturers, and molecular biology/diagnostics companies. Notable commercial relationships include a $37.8 million Supply Assurance and Technology Transfer Agreement with Merck executed in Q4 2025 and evaluation agreements with Axolabs and Nitto Denko Avecia.

Recent strategic activity includes a November 2025 leadership transition (Alison Moore from CTO to CEO, Stephen Dilly to Executive Chairman, Georgia Erbez adding Chief Business Officer duties), a roughly 24% workforce reduction, and significant capital deployment into GMP manufacturing infrastructure (34,000-square-foot Hayward, California facility opening late 2027 with approximately $20-25 million planned investment). The company holds 250+ patents, has supported 16+ approved drugs with its enzymes, and operates under ISO 9001:2015 certification at its Redwood City headquarters.

Name

Codexis

Legal name

Codexis, Inc.

Website

https://codexis.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

Codexis (NASDAQ: CDXS) is a publicly traded enzyme engineering company that uses its CodeEvolver AI/ML platform and ECO Synthesis enzymatic RNA manufacturing platform to provide biocatalysis and siRNA manufacturing services to pharmaceutical, biotech, and diagnostics companies worldwide.

Ownership category

akta.pro rank

Product category

Enzyme Biocatalysis Services

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414), In-Vitro Diagnostic Substance Manufacturing (325413)

SIC

Pharmaceutical Preparations (2834), Services-Commercial Physical & Biological Research (8731), In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro industry

PRIMARYHLAAADAF

RNA Manufacturing & CMC (oligo synthesis, IVT, purification, formulation, QC)

Healthcare & Life Sciences/Biotechnology & Biologics/RNA Therapeutics (mRNA, siRNA, ASO)

SECONDARYHLAAAIAC

Protein Engineering & Directed Evolution Platforms (enzyme/therapeutic protein optimization)

Healthcare & Life Sciences/Biotechnology & Biologics/Biologic Drug Discovery Platforms (screening, antibody engineering, synthetic biology)

SECONDARYHLAGAGAC

mRNA & Nucleic Acid Manufacturing Services (mRNA/saRNA/Plasmid DNA)

Healthcare & Life Sciences/Life Science Tools & Services (CRO/CDMO/Lab Services)/Biopharma Manufacturing Services (Biologics/Cell & Gene)

Keywords

• Enzyme engineering platform
• RNA manufacturing services
• Pharmaceutical biocatalysis
• Oligonucleotide synthesis
• Custom enzyme development

Headquarters

HQ city

Redwood City

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. RNA Manufacturing Services: Contract manufacturing of therapeutic oligonucleotides (siRNA) using ECO Synthesis platform for preclinical, GLP, and clinical supply. Revenue recognized from production contracts and CDMO agreements.
2. Enzyme Products and Biocatalysis Services: Sale of engineered enzymes including screening kits, tailored enzymes, and bespoke enzyme development services for pharmaceutical biocatalysis applications.
3. Technology Licensing and Transfer: Technology transfer agreements and licensing deals including $37.8 million agreement with Merck. Platform licensing for ECO Synthesis manufacturing.
4. Supply Assurance Agreements: Supply assurance agreements providing revenue visibility and long-term partnerships with pharmaceutical companies for enzyme and RNA manufacturing supply.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Codexis engineers custom enzymes and provides manufacturing services for pharmaceuticals using two proprietary platforms: the CodeEvolver enzyme engineering platform (ML-driven protein optimization) and the ECO Synthesis enzymatic RNA manufacturing platform. The company sells off-the-shelf enzyme screening kits, delivers tailored enzyme engineering and scale-up services for pharmaceutical API biocatalysis, and provides RNA manufacturing services (sequential enzymatic synthesis and ligation-based assembly) for therapeutic oligonucleotides including siRNA, gRNA, and ASOs.

Product overview

Codexis is an enzyme engineering company offering two proprietary technology platforms—the CodeEvolver Platform for enzyme engineering powered by machine learning and the ECO Synthesis Platform for RNA manufacturing—alongside specialized service offerings. The portfolio includes RNA Manufacturing Services (encompassing RNA Ligation Services and RNA Sequential Synthesis Services), Pharma Biocatalysis (including Enzyme Screening Kits and Tailored Enzymes), and Molecular Biology and Diagnostic Applications (comprising Bespoke Enzymes and R&D Enzyme Services). Codexis has supported 16+ approved drugs with its enzymes and holds 250+ patents worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• ECO Synthesis Manufacturing Platform Enzymatic RNA manufacturing platform that replaces traditional solid-phase oligonucleotide synthesis, enabling scalable, sustainable production of siRNA therapeutics through sequential enzymatic synthesis and ligation-based assembly workflows. Used by pharmaceutical and biotech companies developing RNA-based therapeutics.
• CodeEvolver Technology Platform Proprietary enzyme engineering platform integrating machine learning, bioinformatics, and high-throughput screening for rapid design and optimization of enzymes for pharmaceutical manufacturing, RNA, and diagnostic applications. Trained on 20+ years of proprietary experimental data.
• RNA Manufacturing Services Enzyme-powered RNA manufacturing services enabling scalable, sustainable synthesis of therapeutic RNA including siRNA, gRNA, and ASOs through the ECO Synthesis platform. Provides preclinical, GLP, and clinical supply from grams to 10+ kg per run.
• RNA Ligation Services AI/ML-enabled ligation fragment design and bespoke ligase variant screening for scalable assembly of longer RNA constructs from shorter fragments, delivering >75% yield and >90% purity. Joins short ssRNA fragments into full dsRNA duplexes using engineered dsRNA ligases.
• RNA Sequential Synthesis Services Enzymatic sequential synthesis service building RNA strands one nucleotide at a time under mild aqueous conditions, achieving 99% average coupling efficiency and compatibility with modified nucleotides (2'-OMe, 2'-F, PS chemistries).
• Pharma Biocatalysis Enzyme-enabled manufacturing solutions for pharmaceutical active ingredient synthesis, transforming resource-intensive chemical steps into efficient, scalable, and sustainable enzymatic processes from grams to tonnes.
• Enzyme Screening Kits and Panels Off-the-shelf enzyme screening kits including Codex ATA (24 amine transaminases), Codex KRED (24 ketoreductases), Codex Esterase (12 esterases), Codex ERED (7 ene reductases), Codex NIT (12 nitrilases), and MicroCyp Screening Kits for rapid feasibility evaluation.
• Tailored Enzymes Custom enzyme engineering and scale-up services for pharmaceutical manufacturing, supporting API development from enzyme screening through commercial supply with CodeEvolver-powered optimization.
• Molecular Biology and Diagnostic Applications Precision-tuned enzyme solutions for molecular biology and diagnostic applications, offering bespoke enzymes and R&D enzyme services with improved fidelity, selectivity, and activity.
• Bespoke Enzymes Precision-optimized custom enzymes engineered for molecular biology and diagnostic applications, solving challenges that off-the-shelf enzymes cannot address with enhanced fidelity, activity, and performance.
• R&D Enzyme Services End-to-end enzyme evolution services from screening to engineering and scale-up, including assay adaptation and process development for molecular biology and diagnostic applications.

Quantifiable outcome

• 99% average coupling efficiency demonstrated across enzymatic sequential synthesis cycles
• +7 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature7 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• AxolabscoreTechnology or Integration · 9 January 2026Partnership where Axolabs will evaluate Codexis ECO Synthesis Manufacturing Platform for enzymatic RNA synthesis. Collaboration aims to develop efficient and scalable methods for therapeutic oligonucleotide manufacturing with potential for future licensing.
• MerckflagshipStrategic or Co-development Partner · 5 November 2025$37.8 million Supply Assurance Agreement plus Technology Transfer Agreement executed in Q4 2025. Represents major commercial validation of Codexis enzyme manufacturing capabilities.
• Nitto Denko AveciacoreTechnology or Integration · 29 October 2025Evaluation agreement to explore Codexis ECO Synthesis Manufacturing Platform for therapeutic siRNA manufacturing. Collaboration aims to expand platform adoption and facilitate licensing discussions.

Scale indicators18 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Twist Bioscience: Twist Bioscience is a leading DNA synthesis and synthetic biology provider serving pharma and biotech customers with high-throughput oligo production, broadly comparable to Codexis's nucleic acid manufacturing and enzyme-enabled service business.
• Camena Bioscience: Camena Bioscience is building enzymatic DNA synthesis (gSynth) for high-fidelity gene and oligonucleotide manufacturing, overlapping with Codexis's ECO Synthesis value proposition for scalable, sustainable nucleic acid production.
• Nitto Denko Avecia: Avecia (Nitto Denko Avecia) is a CDMO specializing in therapeutic oligonucleotide manufacturing (including siRNA), making it both a partner evaluating ECO Synthesis and a direct manufacturing-services competitor in RNA therapeutics.
• DNA Script: DNA Script develops enzymatic DNA and RNA synthesis platforms (Syntax platform) targeting research and therapeutic oligo manufacturing, directly competing with Codexis's ECO Synthesis on enzymatic synthesis speed, length, and quality.
• Ansa Biotechnologies: Ansa Biotechnologies is developing enzymatic DNA synthesis technology aimed at long, high-fidelity oligonucleotide assembly, directly competing with Codexis's ECO Synthesis platform on enzymatic nucleic acid manufacturing for therapeutics.
• GenScript Biotech: GenScript provides gene synthesis, oligonucleotide manufacturing, and protein/biocatalysis services to pharma and biotech customers, comparable to Codexis's tailored enzymes, screening kits, and custom oligo manufacturing offerings.
• Axolabs: Axolabs is a CDMO focused on oligonucleotide-based therapeutics (siRNA, antisense, aptamers) and recently signed an evaluation agreement with Codexis; it is a direct peer in commercial-scale therapeutic RNA manufacturing services.
• Molecular Assemblies: Molecular Assemblies is pioneering terminator-free enzymatic DNA synthesis using proprietary polymerases, pursuing the same enzymatic alternative-to-SPOS positioning as Codexis's ECO Synthesis platform for therapeutic and synthetic biology applications.

Broad incumbents

• Thermo Fisher Scientific: Thermo Fisher operates a global life sciences tools and pharma services/CDMO business (including oligonucleotide manufacturing through Patheon), making it a broad incumbent competing with Codexis in nucleic acid manufacturing and pharmaceutical services.
• Novonesis (formerly Novozymes): Novonesis is a global enzyme engineering and production leader; while focused on industrial enzymes, its scale in protein engineering provides a broad competitive reference point for Codexis's CodeEvolver-driven enzyme business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/codexis
• Xx.com/CodexisInc
• Facebookfacebook.com/Codexis

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds7 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Codexis