Dyadic Announces Research, Lic – GuruFocus.com
JUPITER, Fla., May 11, 2022 (GLOBE NEWSWIRE) — Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our” or the “Company”) (DYAI), a global biotechnology company focused on improving, applying and deploying its proprietary protein production platform, today announced that it has entered into a joint development agreement (“agreement”) with a global ingredients company to develop and manufacture a number of products without ingredients of animal origin using the company’s biotechnologies.
Under the terms of the Agreement:
- The research project will be fully funded by the Global Food Ingredients Company to the tune of 3.6 million euros.
- Dyadic to develop its proprietary production cell lines for the manufacture of product candidates without animal-derived ingredients.
- Dyadic will receive certain defined “Success Fees”, after reaching certain levels of productivity and activity and milestones at different stages of the collaboration.
- Dyadic will receive a low eight-figure “to-market fee” upon commercialization, and a low-single-digit royalty payment based on commercial sales.
“While our primary focus remains to accelerate the adoption of our C1 protein production platform for use in the development and manufacturing of biopharmaceuticals, we believe this strategic partnership demonstrates the company’s ability to leverage of its technologies by taking advantage of opportunities in emerging markets to increase the value of the company. can bring to biomanufacturing,” said Mark Emalfarb, President and CEO of Dyadic.
About Dyadic International, Inc.
Dyadic International, Inc. is a global biotechnology company developing what it believes to be a potentially important biopharmaceutical gene expression platform based on the fungus Thermothelomyces heterothallica (Previously Myceliophthora thermophila), named C1. The C1 microorganism, which enables the large-scale development and manufacture of proteins at low cost, has the potential to be further developed into a safe and efficient expression system that can help accelerate development, reduce production costs and to improve the performance of biology. vaccines and drugs at flexible commercial scales. Dyadic uses C1 technology and other technologies to conduct research, development and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus particles (VLPs) and antigens, antibodies monoclonals, Fab antibody fragments, Fc-Fusion proteins, biosimilars and/or biobetters, and other therapeutic proteins. Certain other research activities are ongoing, including exploring the use of C1 and other technologies to develop and produce certain metabolites and other biologics. Dyadic pursues research and development collaborations, licensing agreements and other commercial opportunities with its partners and collaborators to leverage the value and benefits of these technologies in the development and manufacturing of biopharmaceuticals. As the aging population grows in both developed and underdeveloped countries, Dyadic believes the company’s technologies can help bring biological vaccines, drugs and other biologics to market faster, in greater volumes, at lower cost. and with new properties for drug developers and manufacturers, and improving access and cost for patients and the healthcare system, but above all saving lives.
Please visit Dyadic’s website at https://www.dyadic.com for more information, including details regarding Dyadic’s plans for its biopharmaceutical business.
Safe Harbor Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding Dyadic’s expectations, intentions, strategies and beliefs. International regarding future events or financial performance. Actual events or results may differ materially from those in the forward-looking statements due to a variety of important factors, including those described in the Company’s most recent filings with the SEC. Dyadic undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section titled “Risk Factors” in Dyadic’s Annual Reports on Form 10-K and Quarterly Reports on Form 10. -Q filed with the SEC, as such factors may be updated from time to time in Dyadic’s periodic filings with the SEC, which are accessible on the SEC’s website and at https://www .dyadic.com.
Dyadic International, Inc.
Ping W. Rawson
Telephone: (561) 743-8333
E-mail: [email protected]