Dyadic up on licensing deal with Janssen Biotech

Dyadic International

17/12/2021 13:29

** Shares in Dyadic International  DYAI.O  rise 5% to $4.15
premarket
    ** Co enters into research, license and collaboration deal
with Janssen Biotech, a part of Johnson & Johnson  JNJ.N , for
use of DYAI's C1-cell protein production platform (https://refini.tv/3E4praL)
    ** C1 platform is based on fungus Thermothelomyces
heterothallica, which enables development and large-scale
manufacture of low-cost proteins; platform can speed up
development and lower production costs of biologic vaccines and
drugs 
    ** Under terms of agreement, Janssen will pay Dyadic an
upfront payment of $500,000 for non-exclusive rights to utilize
the C1 platform for manufacturing of Janssen's therapeutic
protein candidates against several biologic targets
    ** Janssen will also provide R&D funding up to 1.6 mln euros
($1.81 mln) and has option to pay mid-seven figure payment for
exclusive license from Dyadic to use platform for manufacturing
of therapeutic proteins directed to one specific target
    ** DYAI stock down 26.58% YTD


($1 = 0.8830 euros)

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))