Business
Dyadic Provides Alternative Proteins Business Update and Announces Attendance at Bioprocess International Conference
JUPITER, Fla., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) (NASDAQ: DYAI), a biotechnology
About this update from Dyadic International, Inc.
[{"type":"text","content":"JUPITER, Fla., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) (NASDAQ: DYAI), a biotechnology company focused on the efficient, large-scale manufacture of proteins for use in non-pharmaceutical applications including food, nutrition and wellness, as well as animal and human health therapeutics and vaccines, today provided an update on business progress and announced its attendance at the Bioprocess International Conference in Boston, September 23-26, 2024. At the conference, Dyadic will highlight its C1 and Dapibus™ microbial platforms, which are designed to improve the efficiency and lower the cost of manufacturing recombinant proteins such as: Recombinant human albumin: for use in cell culture media, diagnostics, and as a stabilizing agent for vaccine production.Bovine transferrin: for use in cell culture media and delivery of cancer therapeutics, among other uses.Human lactoferrin: for use in research and pharmaceutical applications as potential antimicrobial, anti-inflammatory, and immune-supportive products.Bovine alpha-lactalbumin: for use in products including infant formula, dietary supplements, and functional foods. As the Company enters the fourth quarter, Dyadic continues to advance partnerships supported by the Dapibus™ platform targeted at the alternative protein market, seeking near-term recurring revenue growth while continuing to advance the C1 platform in the animal and human health markets. Recent Developments in Alternative Proteins and Life Sciences: Proliant Health and Biologicals (“PHB”), a leading manufacturer of proteins serving companies in microbiological, life sciences, biopharmaceutical, and veterinary sciences through its partnership with Dyadic, is expected to launch animal-free recombinant albumin in the first half of 2025 into the approximately $5B serum albumin market. Dyadic received $1 million in payments from PHB in Q3 and expects to receive additional payments after meeting certain productivity goals, and a share of profits from the sales of recombinant albumin products.The development of Dyadic’s DNase-I (deoxyribonuclease I) protein has been completed, and product sampling is ongoing. DNase-I is an enzyme that has several key potential applications across different industries, including pharmaceuticals, research, diagnostics, an...