Dyadic International Receives Two Additional Research Milestone Payments From BASF
Apr 28, 2015, 08:30 ET
JUPITER, Fla., April 28, 2015 /PRNewswire/ -- Dyadic International, Inc. ("Dyadic") (OTCQX: DYAI), a global biotechnology company with patented and proprietary technologies used to develop and produce enzymes and other proteins for the bioenergy, bio-based chemicals, biopharmaceuticals, and industrial enzymes industries, today announced the receipt of $800,000 for achieving two additional research and development milestones in its funded research program with BASF, a Dyadic C1 Technology licensee.
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"We are excited to have met these milestones as a result of our funded research project with BASF. Dyadic's C1 technology continues to achieve new heights of performance and application potential. The program objectives were accomplished ahead of schedule, with a purer enzyme profile and higher productivity levels than those expected at the beginning of the BASF project. These achievements continue to demonstrate the power of applying our C1 expression technology in the development of enzyme and other protein products from a virtually unlimited number of genes being discovered at an accelerated pace due to the plummeting costs of gene sequencing. C1-based products can be manufactured in very large quantities, with greater purity, resulting in more specific performance and increased profitability. This next-generation 'White Strain 2.0,' represents the culmination of over twenty years of research and development of our patented C1 organism, Myceliopthora thermophila," said Mark Emalfarb, founder & CEO of Dyadic International Inc.
Dr. Wim van der Wilden, General Manager of Dyadic's research laboratory in the Netherlands, added, "The investment made in the expansion of laboratory and scientific staff over the last 18 months has contributed to these and other scientific advances. The successful completion of these additional scientific milestones further highlights our strengths for turning DNA into commercial products and the vast and unlimited potential for doing so. We are thankful to have world-class partners like BASF using Dyadic's C1 technology and are very proud of these scientific and commercial accomplishments." Under the terms of our license agreement with BASF, Dyadic will receive royalty payments based on the revenue from products sold using our C1 technology.
About Dyadic
Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries. Dyadic utilizes an integrated technology platform based on its patented and proprietary C1 microorganism, which enables the development and large scale manufacture of low cost enzymes and other proteins for diverse market opportunities. The C1 platform technology can also be used to screen for the discovery of novel genes. In addition to the sale of proprietary enzyme products, Dyadic actively pursues licensing arrangements and other commercial opportunities to leverage the value of these technologies by providing its partners and collaborators with the benefits of manufacturing and/or utilizing the enzymes and other proteins which these technologies help produce. Please visit Dyadic's website at www.dyadic.com. Dyadic trades on the OTCQX tier of the OTC marketplace. Investors can find real-time quotes, market information and financial reports for Dyadic on the OTC marketplace website at www.otcmarkets.com/stock/DYAI/quote.
Cautionary Note 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) whether our new and existing products will achieve commercial success; (2) whether our collaborations will result in future products or enhanced offers; (3) competitive pressures and reliance on key customers and collaborators; (4) Dyadic's research and development efforts; and (5) other factors discussed in Dyadic's publicly available filings, including the risk factors included in Dyadic's Form 10 Amendment No. 2 filed with the Securities and Exchange Commission and the OTC Markets Group on October 9, 2014.
SOURCE Dyadic International, Inc.