Business
Dyadic Reports Third Quarter 2021 Financial Results and Highlights Recent Company Progress
●COVID-19 vaccine candidate, DYAI-100, continues to advance towards first-in-human clinical trial to validate C1 produced proteins are safe in humans and
About this update from Dyadic International, Inc.
[{"type":"text","content":" ●COVID-19 vaccine candidate, DYAI-100, continues to advance towards first-in-human clinical trial to validate C1 produced proteins are safe in humans and further accelerate global C1 platform adoption ●Five non-COVID-19 infectious disease monoclonal antibody and antigen development programs are ongoing ●Animal health vaccine project continues to demonstrate safety and efficacy advancing towards potential commercialization ●Entered two new fully funded R&D collaborations with academia and industry ●Executive leadership team enhanced with the appointment of Joseph Hazelton, Chief Business Officer ●Received $1.6M in cash from sale of equity interest in BDI ●Licensing Agreement discussions continue with Sorrento Therapeutics; technology transfer initiated ●Cash and investment grade securities of $22.8 million as of September 30, 2021 JUPITER, Fla., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) (NASDAQ: DYAI), a global biotechnology company focused on further improving, applying, and deploying its proprietary C1-cell protein production platform to accelerate development, lower production costs and improve the performance of biologic vaccines and therapeutics today announced its financial results for the third quarter of 2021, and highlighted recent Company progress. Mark Emalfarb, Dyadic’s President and Chief Executive Officer, said, “We continue to make progress in our efforts to enhance and advance our C1 protein production platform. A successful Phase 1 human clinical trial of our DYAI-100 COVID-19 vaccine candidate would help us accelerate the adoption of our C1 platform, moving us closer to realizing C1’s commercial potential in the pharmaceutical market in 2022 and in the years ahead. We expect to demonstrate the C1 platform’s safety in humans in the near term and are now diligently working towards the completion of a CMC/cGMP manufacture process. We expect DYAI-100 to move into first-in-human clinical trials in 2022 — independently and/or potentially through our global network of development partners. Dyadic’s mission since the DuPont transaction has been to transform life sciences manufacturing processes and deliver a cost-effective production platform that increases biomanufacturing outputs while satisfying the growing demand for protein production and unmet nee...