Biotech Codex DNA has made a big deal: shares have risen in price

A specialist in genetic research Codex DNA Inc. (DNAY) will become a partner of one of Pfizer’s pharmaceutical market leaders. The news about the cooperation supported the growth of Codex DNA quotes, which rose 40% at the auction on December 29. On December 30, the DNAY stock ended at $10.98, having at a price of more than 17%. 

Codex DNA management has announced that it has concluded research and licensing cooperation agreement with the American pharmaceutical company Pfizer. Under the terms of the deal, the two companies will work together to develop further the BioXP technology created by Codex DNA. The BioXp system provides continuous automation of DNA assembly, cloning, amplification, and mRNA synthesis within a few hours. 

The equipment helps to accelerate the design, assembly, and testing stages in the product development cycle, providing automatic, fast, and high-performance synthesis of genes, clones, variant libraries, and mRNAs. Codex DNA describes its system as “the world’s only fully automated platform for gene synthesis. After completion, BioXP will be used to produce materials that Pfizer can potentially use in its products. 

Codex DNA will receive an advance payment of $8 million to participate in the agreement. The company is also entitled to receive additional interim charges of up to $10 million shortly. In total, Codex DNA can earn up to $180 million at the main stages of sales in addition to royalty payments, provided that its technologies allow Pfizer to create commercial products. 

Cooperation with the largest pharmaceutical company is an essential stage in the development of Codex DNA, which will have the opportunity to promote BioXP with the help of Pfizer’s significant financial and scientific resources.