JUPITER, Fla. and WAGENINGEN, The Netherlands, May 2, 2011 – Dyadic International, Inc. (“Dyadic”) (OTC Pink: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of enzyme and protein products for the biopharmaceutical, biofuels and industrial enzyme industries, announced today that its research and development subsidiary, Dyadic Nederland B.V. (“Dyadic Netherlands”), has entered into a research agreement with Sanofi Pasteur, the vaccines division of sanofi-aventis Group, and EnGen Bio, Inc.
Under the agreement, Sanofi Pasteur will fund collaborative research at Dyadic Netherland’s research and development facility in Wageningen, The Netherlands, which will utilize Dyadic’s proprietary and patented C1 Platform Technology for certain vaccine applications. The research will be conducted under the guidance and direction of Dyadic Netherland’s General Manager, Dr. ir. Wim van der Wilden, with coordination by Dr. Mark Alfenito, the President and CEO of EnGen Bio. The research is anticipated to be completed in six to twelve months. All other terms of the research collaboration are confidential.
EnGen Bio, based in Redwood City, California, is an early stage biopharmaceutical company that is working to develop biopharmaceutical applications for Dyadic’s proprietary and patented C1 Platform Technology. For more information, please visit: www.engenbio.com.
Dyadic’s President and Chief Executive Officer, Mark Emalfarb, stated, “We are very pleased to have the opportunity to work with Sanofi Pasteur and EnGen Bio to further demonstrate the utility of our C1 technology for certain vaccine applications.”
Dyadic is a global biotechnology company focused on the discovery, development, manufacture and sale of enzyme and protein products for the biopharmaceutical, biofuels and industrial enzyme industries. Dyadic utilizes an integrated technology platform based on its patented and proprietary C1 fungus, which enables the development and large scale manufacture of low cost proteins and enzymes for diverse market opportunities. The C1 Platform Technology can also be used to screen for the discovery of novel genes and proteins. 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 which these technologies help produce. Please visit Dyadic’s website atwww.dyadic.com.
Dyadic Netherlands is a wholly owned subsidiary of Dyadic based in Wageningen, The Netherlands that is dedicated to research and development activities for the benefit of Dyadic, its collaborators and customers. Please visit Dyadic Netherlands’ website at www.dyadic.nl.
CAUTIONARY STATEMENT FOR FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release are forward- looking statements. These forward-looking statements involve risks and uncertainties 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. Except as required by law, Dyadic expressly disclaims any intent or obligation to update any forward-looking statements.
Dyadic International, Inc.
Adam J. Morgan
Vice President General Counsel & Business Development