Business
Dyadic Reports 2019 Year End Results and Recent Developments
New research license agreement with WuXi Biologics, a leading global CDMOTwo new fully funded collaborations and one expanded collaboration signed in 2020,
About this update from Dyadic International, Inc.
[{"type":"text","content":"New research license agreement with WuXi Biologics, a leading global CDMOTwo new fully funded collaborations and one expanded collaboration signed in 2020, including the third fully funded collaboration with a top tier animal health companySix funded research collaborations and one expanded collaboration signed in 2019Expanded strategic R&D relationships to assist in the development of COVID-19 vaccine and antibodiesExpanded internal product and platform pipelineRobust scientific data demonstrates C1's strong capabilities, new attributes, and broader market opportunitiesCash and investment grade securities of $36 million at year-end 2019JUPITER, FL / ACCESSWIRE / March 30, 2020 / Dyadic International, Inc. (\"Dyadic\", \"we\", \"us\", \"our\", or the \"Company\") (NASDAQ:DYAI), a global biotechnology company focused on further improving and applying its proprietary C1 gene expression platform to speed up the development, lower production costs and improve the performance of biologic vaccines and drugs at flexible commercial scales, today announced its financial results for the year ended December 31, 2019, and recent developments.\"I am pleased to report that 2019 was another successful year for Dyadic as we achieved several important scientific and business milestones and expanded our global presence. While still early in 2020, we are seeing continued momentum. During 2019, we entered into six new proof of concept research collaborations to express different types of biologic vaccines and drugs for both human and animal health and entered into two research licenses. As a result, Dyadic's pipeline of opportunities is getting larger and more diverse. Last week, we entered into a nonexclusive research license with WuXi Biologics, a leading global Contract Development Manufacturing Organization (\"CDMO\") and another fully funded feasibility study with a leading animal health company. We are now working with three of the top four animal health companies,\" said Mark Emalfarb, Dyadic's Chief Executive Officer.He further commented, \"To assist in the global fight against the COVID-19 pandemic, we are working with the Israel Institute for Biological Research (\"IIBR\"), Ufovax, a spin-off vaccine company of Scripps Research, as well as a group of coronavirus experts from Erasmus Medical Center, Utrecht University, and the University o...