Codexis Raises $78 Million in IPO

Codexis Inc., a Redwood City, Calif.-based provider of solutions for pharma chemical process development and manufacturing, raised around $78 million via its IPO. The company priced six million shares being offered at $13 per share, or the low end of its $13-$15 per share range. The company’s initial market cap is approximately $441 million.

It will trade on the Nasdaq under ticker symbol CDXS, while Credit Suisse served as lead underwriter.

Codexis reported product revenue of $18.55 million in 2009 revenue, up from $16.86 million in 2008.

Codexis had raised just over $80 million in VC funding since 2002, from firms like CCTV Investments, CMEA Ventures, Pequot Capital, Bio*One Capital and Pfizer. It canceled a previous $100 million IPO attempt in September 2008.

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