SUZHOU, China--(BUSINESS WIRE)--Please replace the release dated Feb. 5, 2018, with the following corrected version due to multiple revisions.
The corrected release reads:
ENZYMEWORKS, INC. RESUMES FOCUS ON BIOCATALYSIS
In 2016, Codexis, Inc. (“Codexis”) sued EnzymeWorks, Inc. (U.S.), Suzhou Hanmei Biotechnology Co. Ltd, d/b/a EnzymeWorks, Inc. (China) (collectively, “EnzymeWorks”) and EnzymeWorks founder Dr. Junhua “Alex” Tao in the United Stated District Court for the Northern District of California (the “Codexis Lawsuit”) for various claims. From the very beginning, EnzymeWorks decided not to oppose the patent infringement claims because of the limited exposure, but fiercely denied any other liabilities throughout the case. (See https://www.businesswire.com/news/home/20170811005520/en/EnzymeWorks-Dr.-Alex-Tao-Respond-Press-Release). The Codexis Lawsuit is regarding biocatalysis technology, which is a relatively new field. Some guidelines are emerging to minimize legal risks and make the technology more attractive for chemical production: http://www.enzymeworking.com/index.php?_m=mod_article&_a=article_content&article_id=260.
After two years of litigation, the Codexis lawsuit is drawing to a closure. The parties of the lawsuit have entered into a settlement agreement, the terms of which are confidential. The parties have also stipulated to a judgment of patent infringement of all asserted patents against EnzymeWorks, and a permanent injunction barring any future infringement. The remaining claims against EnzymeWorks, and all claims against Junhua Tao, and Andrew Tao including trade secret misappropriation, breach of contract and voidable transfer are set to be dismissed with prejudice.
We greatly appreciate our friends and customers’ trust and support during those difficult times, and especially thank our legal counsel J. James Li, PhD. and his team at LiLaw Inc. for their professional services, deep experience and dedication.
With the case behind, EnzymeWorks and Alex Tao will continue to improve the biocatalysis technology making it more efficient for green chemical manufacturing. EnzymeWorks develops its own enzymes and processes via retrosynthetic integration with chemical transformations, and is always committed to taking responsibility for IP.
About EnzymeWorks, Inc.: EnzymeWorks is a world leader in applying biosynthesis and green chemistry as its core technologies for contract research and manufacturing services. Its research team has contributed to over 20 books, filed over 100 patents and received numerous honors and awards in the field of biocatalysis and biomanufacturing. We also supply over a dozen cofactors including NAD, NADP, NADH, NADPH, NR, NMN, UDP glucose, and UDP glucuronic acid at large scale. Learn more at www.enzymeworking.com.
About LiLaw Inc: LiLaw Inc. is an intellectual property, business litigation and employment law firm based in CA, USA. Learn more at www.lilaw.us.