Dyadic International, Inc. Announces Research and Development Agreement to Further Advance Its Proprietary C1 Fungal Strain f...
September 07 2016 - 8:30AM
Dyadic International, Inc. (“Dyadic”) (OTCQX:DYAI), a global
biotechnology company focused on the development and large scale
manufacture of low cost, better performing biologic vaccines and
drugs at flexible commercial scales, today announced they have
entered into a research and development agreement to further
advance its proprietary C1 fungal strain for biopharmaceutical
development & production. The collaboration is targeting the
development of highly productive C1 strains & fermentation
processes, and the accompanying associated molecular tools to
produce a number of targeted therapeutic proteins for Dyadic as
well as those specified by third party biotech and pharmaceutical
companies.
“We are excited to be further advancing C1’s
capabilities for the development and production of lower cost
therapeutic proteins,” said Mark A. Emalfarb, Founder and CEO,
Dyadic. “In order to reach our ambitious goals and to incentivize
the scientists carrying out this project, the agreement provides
for potential milestone payments for achieving specified
productivity levels and glycosylation properties within specified
timelines.”
“The research & development program will
encompass the entire spectrum of strain development through
fermentation optimization, applying proven scientific and genetic
techniques and principles, executed by some of the most skilled
filamentous fungal researchers to re-engineer the highly productive
industrially proven C1 expression system for therapeutic uses,”
said Ronen Tchelet, PhD, Dyadic’s VP of Research & Business
Development. “What we are setting out to accomplish in this
development program has the potential to help bring biologic
vaccines & drugs to market faster, in greater volumes, at lower
cost, and with new properties to drug developers and manufacturers
and, hopefully, improve access and reduce cost to patients and the
healthcare system, but most importantly saving lives.”
About Dyadic International,
Inc.
Dyadic International, Inc. is a global
biotechnology company which is developing what it believes will be
a potentially significant biopharmaceutical protein production
system based on the fungus Myceliopthora thermophila, nicknamed C1.
The C1 microorganism, which enables the development and large scale
manufacture of low cost proteins, has the potential to be further
developed into a safe and efficient expression system that may help
speed up the development, production and performance of biologic
vaccines and drugs at flexible commercial scales. Dyadic is
using the C1 technology and other technologies to conduct research,
development and commercial activities for the development and
manufacturing of human and animal vaccines, monoclonal antibodies,
biosimilars and/or biobetters, and other therapeutic proteins.
Dyadic pursues research and development collaborations, licensing
arrangements and other commercial opportunities with its partners
and collaborators to leverage the value and benefits of these
technologies in developing and manufacturing biopharmaceuticals
which these technologies help produce. In particular, as the aging
population grows in developed and undeveloped countries, Dyadic
believes the C1 technology may help bring biologic drugs to market
faster, in greater volumes, at lower cost, and with new properties
to drug developers and manufacturers and, hopefully, improve access
and cost to patients and the healthcare system, but most
importantly saving lives. Please visit Dyadic’s website at
www.dyadic.com for additional information, including details
regarding Dyadic’s plans for its biopharmaceutical business.
Dyadic trades on the OTCQX tier of the OTC
marketplace. Investors can find real-time quotes, market
information and financial reports for Dyadic, as well as additional
information related to its professional liability lawsuit, in the
company’s annual and quarterly reports which are filed with the OTC
markets. Please visit the OTC markets website at
www.otcmarkets.com/stock/DYAI/quote.
Safe Harbor Regarding Forward-Looking
Statements
Certain statements contained in this press
release are forward-looking statements within the meaning of the
federal securities laws. These forward-looking statements involve
risks, uncertainties and other factors that could cause Dyadic’s
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Investors
are urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. Any forward-looking
statements speak only as of the date of this press release and,
except as required by law, Dyadic expressly disclaims any intent or
obligation to update or revise any forward-looking statements to
reflect actual results, any changes in expectations or any change
in events. Factors that could cause results to differ materially
include, but are not limited to: (1) general economic, political
and market conditions (2) our ability to carry out and implement
our biopharmaceutical research and business plans and strategic
initiatives (3) Dyadic’s ability to retain and attract employees,
consultants, directors, advisors and contract research
organizations (4) our ability to implement and successfully carry
out Dyadic’s and third parties research and development efforts (5)
our ability to obtain new license and research agreements (6)
competitive pressures and reliance on key customers and
collaborators (7) the outcome of the current litigation by Dyadic
against its former counsel and (8) other factors discussed in
Dyadic’s publicly available filings, including information set
forth under the caption “Risk Factors” in our December 31, 2015
Annual Report filed with OTC Markets on March 29, 2016. New risks
and uncertainties arise from time to time, and it is impossible for
us to predict these events or how they may affect us.
Contact:
Dyadic International, Inc.
Thomas L. Dubinski
Chief Financial Officer
Phone: 561-743-8333
Email: tdubinski@dyadic.com
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