Covalys develops new molecular tools for protein research, a field notoriously hindered by several large technological gaps. The proprietary technologies SNAP  and ACP - tag are  based on unique protein tags which greatly facilitate the purification, labeling and immobilization of proteins in their functional form, opening new opportunities for protein research and development. In contrast to competing approaches, the SNAP- and ACP tag technologies combine specificity with high reliability, stability and a broad versatility in their applications. The technologies were in-licensed from the EPFL. 

Following the exclusive license deal with New England Biolabs (NEB) the company became as of June 2009 a full virtual organization.