JUPITER, Fla., May 08, 2023 — Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) (NASDAQ: DYAI), a global biotechnology company focused on building innovative microbial platforms to address the growing demand for global protein bioproduction and unmet clinical needs for effective, affordable and accessible biopharmaceutical products and alternative proteins for human and animal health, today announced that it entered into a co-development and marketing agreement with Fermbox Bio Inc (“Fermbox”).
Under the agreement, Dyadic and Fermbox expect to use Dyadic’s proprietary Dapibus™ filamentous fungal based microbial protein production platform and Fermbox’s extensive product development capabilities, to design, develop and commercialize innovative animal free alternative proteins and biomaterials.
“I am excited to announce this fully funded co-development and marketing agreement with Fermbox which is consistent with our business strategy of focusing on near term commercialization opportunities that can create shareholder value,” said Joe Hazelton, Chief Business Officer of Dyadic. “Fermbox has extensive expertise in bio-alternate development and microbial precision fermentation which we expect will accelerate our ability to exploit the DapibusTM platform and expand Dyadic’s product offerings for non-pharmaceutical alternative proteins applications, such as food, nutrition, wellness and other bioproducts. We anticipate this collaboration will enhance our market penetration into the alternative protein markets at the same time our biopharmaceutical activities using C1 are also advancing at a rapid pace. We believe that this collaboration will further leverage our proprietary DapibusTM platform toward developing and commercializing multiple end-market animal free protein products.”
Mr. Subramani (suBBu) Ramachandrappa, Founder and President of Fermbox Bio commented, “We are very excited to partner with Dyadic and use its novel Dapibus™ platform to create alternative biomaterials that are not only sustainable but also economically viable. Our joint expertise across expression systems and execution capabilities from lab to large scale manufacturing, uniquely positions us for success. We have a long-standing relationship with Dyadic leadership, and we believe that this co-development agreement can potentially accelerate the timelines for both companies to bring new and commercially viable bio-alternates to the market sooner.”
About Dyadic International, Inc.
Dyadic International, Inc. is a global biotechnology company focused on building innovative microbial platforms to address the growing demand for global protein bioproduction and unmet clinical needs for effective, affordable, and accessible biopharmaceutical products and alternative proteins for human and animal health.
Dyadic’s gene expression and protein production platforms are based on the highly productive and scalable fungus Thermothelomyces heterothallica (formerly Myceliophthora thermophila). Our lead technology, C1-cell protein production platform, is based on an industrially proven microorganism (named C1), which is currently used to speed development, lower production costs, and improve performance of biologic vaccines and drugs at flexible commercial scales for the human and animal health markets. Dyadic has also developed the Dapibus™ filamentous fungal based microbial protein production platform to enable the rapid development and large-scale manufacture of low-cost proteins, metabolites, and other biologic products for use in non-pharmaceutical applications, such as food, nutrition, and wellness.
With a passion to enable our partners and collaborators to develop effective preventative and therapeutic treatments in both developed and emerging countries, Dyadic is building an active pipeline by advancing its proprietary microbial platform technologies, including our lead asset DYAI-100 COVID-19 vaccine candidate, as well as other biologic vaccines, antibodies, and other biological products.
To learn more about Dyadic and our commitment to helping bring vaccines and other biologic products to market faster, in greater volumes and at lower cost, please visit https://dyadic.com.
About Fermbox Bio, Inc.
Fermbox Bio Inc., a synthetic biology company with operations in USA and India, is focused on using microbial precision fermentation, for sustainable and commercially viable production, of bio-alternatives to those derived from plants and animals.
Leveraging its expertise across microbial expression systems, and experience from clone development to large-scale Bio-manufacturing, Fermbox Bio has evolved a de-risked collaborative model to Co-Develop, Manufacture and Commercialize Biomaterials for the global market. These biomaterials are used in food, cosmeceutical, nutraceutical and industrial applications.
The Fermbox team comes together with a shared commitment to positively impacting the planet and a passion for innovation.
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, such as the success of our clinical trial and interest in our protein production platforms, our research projects and third-party collaborations, as well as the availability of necessary funding. 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 www.dyadic.com.
Dyadic International, Inc.
Ping W. Rawson
Chief Financial Officer
Phone: (561) 743-8333