Dyadic Focuses On Pharma Sector

Dyadic International Inc. is selling its industrial technology business to DuPont’s Industrial Biosciences business for $75 million. Dyadic says it intends to focus exclusively on its biopharmaceutical business.

“This transaction is an exceptional opportunity to unlock value and provide Dyadic operational flexibility to further develop our pharmaceutical business,” said Mark Emalfarb, founder and chief executive officer, Dyadic. “We will now focus our C1 technology exclusively on the pharmaceutical sector where we believe it has the potential to help develop and manufacture drugs and vaccines faster and more efficiently than existing production systems.”

Dyadic will sell to DuPont all of its enzyme and technology assets, including its C1 platform, a technology for producing enzyme products used in a broad range of industries. DuPont has granted back to Dyadic co-exclusive rights to the C1 technology for use in human and animal pharmaceutical applications, with exclusive ability to enter into sub-license agreements in that field.  DuPont will retain certain rights to utilize the C1 technology for development and production of pharmaceutical products, for which it will make royalty payments to Dyadic upon commercialization.