US-headquartered synthetic biology product developer Codexis has launched a startup accelerator in collaboration with hedge fund manager Casdin Capital.
The SynBio Innovation Accelerator will fund and support early-stage companies in the synthetic and industrial biotechnology sector. Casdin Capital plans to invest over $50m into companies in the industry, including those connected to the accelerator, in the coming years.
The accelerator has already completed its first investment, backing US-based protein design software developer Arzeda. Codexis and Casdin have agreed to jointly invest $1.75m in the company.
Codexis was spun out of synthetic biology technology producer Maxygen in 2002 and develops proteins for use in pharmaceuticals, fine chemicals, diagnostics and other life science applications.
John Nicols, CEO and president of Codexis, said: “Today we have a remarkable ability to not just read DNA but write and engineer transformative biologic products. Codexis’ 20-year history in the space has shown us that it takes more than just capital to deliver differentiated products to the market.
“Leveraging the company’s proven protein engineering technology and business-operational capabilities, with Casdin Capital’s financial resources, network and investment process, we will together add fuel to a now lit fire.”