An estimated $100 Million worth of shares in an Initial Public Offering all are set to be floated by the biotechnology firm Codexis Inc., as per the plans shared by the company. The firm is involved in developing industrial biocatalysts, including enzymes and microbes, for use in energy, pharmaceutical and environmental firms.

Funds generated from the IPO, as confirmed by Codexis, will be used by the company to invest in working capital and other general corporate purposes, which would include costs tied with being a publicly traded company. A part of the proceeds could also be used to "acquire other businesses, products or technologies, and to increase internal biocatalyst production capacity".

As per the document filed in the Securities and Exchange Commission filing, the firm does not have any "agreements or commitments for any specific acquisitions at this time".

Codexis came into existence during early 2002, as a subsidiary of Maxygen Inc. and the firms still owns over a fifth of the company's stock.

Shares of the biotechnology company will be listed under CDXS on the Nasdaq Global Market.