Brief: Dyadic And Sorrento Announce Binding Term Sheet To License Dyadic’S Lead Covid-19 Vaccine Candidate “Dyai-100” And C1 Technology For Protein-Based Coronavirus Vaccines And Therapeutics

Dyadic International

11/08/2021 14:14

Aug 11 (Reuters) - Dyadic International Inc  DYAI.O :
    * DYADIC AND SORRENTO ANNOUNCE BINDING TERM SHEET TO LICENSE
DYADIC’S LEAD COVID-19 VACCINE CANDIDATE “DYAI-100” AND C1
TECHNOLOGY FOR PROTEIN-BASED CORONAVIRUS VACCINES AND
THERAPEUTICS
    * DYADIC INTERNATIONAL INC - DEAL  CONSIDERATION INCLUDES A
$10
MILLION UP-FRONT PAYMENT
    * DYADIC INTERNATIONAL INC -  AGREEMENT INCLUES UP TO $4
MILLION
IN REIMBURSEMENTS FOR COSTS INCURRED BY CO FOR DEVELOPMENT OF
DYAI-100 VACCINE
    * DYADIC INTERNATIONAL INC - AGREEMENT INCLUDES UP TO $33
MILLION
IN MILESTONE PAYMENTS, ONGOING ROYALTIES FOLLOWING
COMMERCIALIZATION OF DYAI-100 VACCINE
    * DYADIC INTERNATIONAL INC - ALL FUTURE DEVELOPMENT COSTS
RELATED
TO THIS LICENSE WILL BE INCURRED BY SORRENTO

Source text for Eikon:  ID:nGNX29DfnY 
Further company coverage:  DYAI.O 

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