JUPITER, Fla., March 10, 2011 /PRNewswire/ -- Dyadic International, Inc. (OTC Pink: DYAI), a global biotechnology company, today announced financial results for the year ended December 31, 2010. The financial information contained in this press release should be read in conjunction with the financial statements, footnotes and independent auditors' report which have been posted on the OTC Markets website at www.otcmarkets.com and on Dyadic's website at www.dyadic.com.
Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "In 2010, Dyadic made substantial progress toward the continued growth of our licensing, research and development, and industrial enzyme businesses. We commenced discussions and negotiations with a broad spectrum of potential new partners and continue to work towards successfully concluding these potential collaborations. Our non-exclusive licensees, Codexis and Abengoa Bioenergy, continue to report positive results in using Dyadic's C1 platform technology to reduce the costs involved in the commercialization of cellulosic ethanol and the production of cellulosic sugars for a variety of applications. Dyadic Netherlands has continued to attract funded research projects which provide a fertile testing ground of our technologies for various industry applications and the potential for those projects to evolve into broader partnerships. Our industrial enzyme business grew revenues by nine percent with improved margins as we continue to achieve greater distribution of new and existing products to our global customers. The recent launch of our Fibrezyme® G200 pulp and paper product was developed from an improved variant of our C1 technology which produces purer forms of proteins and enzymes at higher yields demonstrating once again the versatility and robust nature of our C1
|SOURCE Dyadic International, Inc.|
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