Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the
“Company”) (NASDAQ: DYAI), a global biotechnology company focused
on further improving, applying and deploying its proprietary
C1-cell protein production platform to accelerate development,
lower production costs and improve the performance of biologic
vaccines and therapeutics at flexible commercial scales, today
announced that the Company is expanding its partnership with South
Korea’s Medytox, Inc. (“Medytox”), a global biopharmaceutical
company with sales in approximately 60 countries. Dyadic and
Medytox will co-develop C1 manufactured COVID-19 vaccines and/or
boosters, which will, if successful, be used to immunize people
against two or more of the current and future COVID-19 variants.
This project can provide dedicated local supply, to help combat
COVID-19, in this region of the world.
Dr. Gi-Hyeok Yang, Sr, Executive Vice
President and Head of Research and Development at Medytox
stated, “We are very excited to extend our
collaboration with Dyadic and their C1 technology platform to
partner in the co-development of C1 manufactured COVID-19 vaccines.
Dr. Yang continued “We have been working closely with Dyadic
since July 2020, when we obtained access to their C1
expression platform
and experienced the remarkable versatility and high productivity of the
C1 platform. Based on our experience and comparing the C1
technology platform against several other expression platforms such
as CHO and insect cells, we believe that the fungi-derived C1
expression system is the most realistic technology to develop and
manufacture multi-valent (i.e., tri-valent, and tetra-valent)
vaccines, rapidly and affordably,
against COVID-19 mutant viruses without the need for
a large-scale bioreactor facility. Medytox has confidence that the
C1 technology platform can play a critical role in helping combat
COVID-19, which may continue to persist as a seasonal influenza and
necessitate COVID-19 variant vaccine shots every year. We look
forward to gaining additional experience with the C1 technology as
it has potential for use in developing and producing a growing
number of vaccines, drugs, and other biological products in
addition to COVID-19. As a biopharmaceutical company, with
multiple successful commercial products, we look forward to
leveraging our proven world-class research and development and
commercialization capabilities to expeditiously bring potential new
C1 manufactured COVID-19 variant vaccines to market, to combat this
deadly infectious disease.”
Mark Emalfarb, Dyadic’s Founder and Chief Executive Officer
commented "If global efforts to eradicate the current pandemic are
to be successful, there needs to be more efficient, affordable, and
flexible ways to develop and manufacture vaccines globally, that
can stop the spread of COVID-19. At Dyadic, we listened to early
warnings from the scientific community and, as early as 2015, we
joined with European human and animal health experts in the
Zoonosis Anticipation Preparedness Initiative (ZAPI). In 2018, we
expanded this effort with the Israel Institute for Biological
Research (IIBR), to further develop our C1 gene expression platform
for use in facilitating a fast, coordinated, and practical response
to emerging infectious diseases”, Mr. Emalfarb continued, “If we
are to achieve a better future, we must reduce or eliminate the
risk of future pandemics, by acting now to invest in crucial
research and development to optimize vaccination and drug
strategies and technologies. A growing number of global scientists,
industry and government agencies believe the C1 platform is
positioning Dyadic as the partner of choice for high volume,
low-cost, next generation vaccine and drug manufacturing, including
COVID-19, influenza and other vaccines.”
About Medytox, Inc. Medytox is a research-based
bio pharmaceutical company which developed a botulinum toxin
product for the first time in Korea (the fourth in the world), and
engages in the development, manufacture, marketing, and sales of
neurotoxin products as its main business. Since its establishment
in 2000, Medytox has developed and evolved into a global
world-class R&D company with the successful launch of its main
neurotoxin product. Today, Medytox's neurotoxin products are sold
in about 60 countries with millions of people having already
received therapeutic or aesthetic treatments. For more information
regarding Medytox, go to: www.medytox.com.
About Dyadic International, Inc.Dyadic
International, Inc. is a global biotechnology company which is
developing what it believes will be a potentially significant
biopharmaceutical gene expression platform based on the
fungus Thermothelomyces heterothallica (formerly
Myceliophthora thermophila), named 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,
lower production costs and improve the 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 and drugs, such as virus
like particles (VLPs) and antigens, monoclonal antibodies, Fab
antibody fragments, Fc-Fusion proteins, biosimilars and/or
biobetters, and other therapeutic proteins. Certain other research
activities are ongoing which include the exploration of using C1 to
develop and produce certain metabolites and other biologic
products. 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 development and manufacture of
biopharmaceuticals. As the aging population grows in developed and
undeveloped countries, Dyadic believes the C1 technology may help
bring biologic vaccines, drugs, and other biologic products to
market faster, in greater volumes, at lower cost, and with new
properties to drug developers and manufacturers, and improve access
and cost to patients and the healthcare system, but most
importantly save lives.
Please visit Dyadic's website
at http://www.dyadic.com for additional 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 International's expectations,
intentions, strategies, and beliefs pertaining to future events or
future financial performance. Actual events or results may differ
materially from those in the forward-looking statements because of
various important factors, including those described in the
Company's most recent filings with the SEC. Dyadic assumes no
obligation to update publicly any such forward-looking statements,
whether because 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 entitled "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 http://www.dyadic.com.
Contact:
Dyadic International, Inc.Mark EmalfarbChief Executive
OfficerPhone: (561) 743-8333Email: memalfarb@dyadic.com
SOURCE: Dyadic International, Inc.
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