JUPITER, Fla., Sept. 07, 2016 (GLOBE NEWSWIRE) -- 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
