JUPITER, Fla., Feb. 29, 2012 /PRNewswire/ -- 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 industrial enzyme, bioenergy, and biopharmaceutical industries, announced today that it has entered into a research, development and license agreement with a leading global provider of nutritional ingredient solutions to use Dyadic's patented and proprietary C1 platform technology to develop, manufacture and commercialize key enzyme products for food applications.
Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "We are very fortunate to partner with a company that has such a long history of providing innovative and effective products. Dyadic looks forward to utilizing its C1 technology for the expression of next generation enzyme products for food applications. This collaboration is yet another example of Dyadic's ability to continue leveraging its technologies in a variety of industries by providing its partners with the pathway towards greater profitability through better performing products at lower costs and higher yields."
Under this agreement, Dyadic's partner will fund research at Dyadic's research and development center in the Netherlands to develop customized C1 fungal strains that can produce high levels of key enzymes for food applications. Dyadic has granted its partner a worldwide license to use these developed C1 fungal strains to manufacture and sell these key ingredients used in manufacturing certain foods.
In addition to research funding, if the research is successful and Dyadic's partner commercializes enzyme products derived from Dyadic's C1 technology, Dyadic will be eligible to receive commercial milestone payments as well as ongo
|SOURCE Dyadic International, Inc.|
Copyright©2010 PR Newswire.
All rights reserved