Codexis sells Hungarian operations to Intrexon Corporation

Codexis today announced the sale of its Hungarian subsidiary to Intrexon Corporation. The transaction closed on March 13, with a purchase price of US$ 1.5 million. No proprietary Codexis materials or intellectual property were included in the transaction. "We are very pleased with this transaction," said John Nicols, President and CEO of Codexis. "We were able to transfer our dedicated and talented employees in Hungary to Intrexon and to monetize one of our assets as part of the wind down of our biofuels business."