Business
Dyadic Reports 2020 First Quarter Results and Recent Developments
Two fully funded research projects with top four animal health companies.Nonexclusive research license agreement with WuXi Biologics.Feasibility study with
About this update from Dyadic International, Inc.
[{"type":"text","content":"Two fully funded research projects with top four animal health companies.Nonexclusive research license agreement with WuXi Biologics.Feasibility study with the University of Oslo on influenza vaccine.Engineered C1 cell lines to produce high levels of potential SARS-CoV-2 vaccines. Strategic R&D relationships to assist in the development of potential COVID-19 vaccines and antibodies.Cash and investment grade securities of $34 million at end of first quarter 2020.JUPITER, FL / ACCESSWIRE / May 14, 2020 / Dyadic International, Inc. (\"Dyadic\") (NASDAQ:DYAI), a global biotechnology company focused on further improving and applying its proprietary C1 gene expression platform to accelerate development, lower production costs and improve the performance of biologic vaccines and drugs at flexible commercial scales, today announced its financial results for the quarter ended March 31, 2020, and recent developments.\"I am very pleased with the substantial progress we made in the first quarter, further executing on our growth strategy and with our efforts increasingly well-aligned to address many of the key global healthcare industry challenges. The data we are generating further highlights the robustness of our C1 gene expression platform and its broad and ever-growing potential applications. As a result, we continue to expand the potential range of commercial opportunities for Dyadic through our relationships with both existing and new partners who are well-established and top tier in their respective sectors. Our overall partnership efforts have been highly collaborative and well-coordinated,\" said Mark Emalfarb, Dyadic's Chief Executive Officer.Mr. Emalfarb added \"We currently have active programs with several of the top ten human pharma companies and three of the top four animal health companies which are generating encouraging data as well as ongoing discussions for new project opportunities. During the quarter, we moved into the second phase of two of our initial projects with one of our animal health collaborators. In addition, with regard to our self-funded glycoengineering efforts, we have developed a library of human-like C1 strains with higher yields, greater purity and better stability. As a result of these efforts, we are receiving increased levels of interest from the pharmaceutical industry.With regard to the COVID-19 pa...