Dyadic International Announces Participation In OPTIBIOCAT Collaboration
JUPITER, Fla., March 18, 2014 /PRNewswire/ — Dyadic International, Inc. (“Dyadic”) (OTCQX: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, bio-based chemicals, biopharmaceutical, food and feed industries, announced today details regarding its new project, “OPTIBIOCAT – Optimized esterase biocatalysts for cost-effective industrial production”, an EU-funded project aimed at developing biocatalysts for the cosmetic industry.
Dyadic’s Chief Operating Officer, Danai Brooks, stated, “OPTIBIOCAT involves a highly skilled and multidisciplinary partnership of 16 partners from eight EU countries. Our participation in the project further highlights the strength and recognition of our C1 technology platform in producing novel enzymes at commercial scale.”
The biocatalysts will be based on feruloyl acid esterases (“FAE”) and glucuronyl esterases (“GE”) which are expected to be used in the production of phenolic fatty- and sugar- esters with antioxidant activity for the cosmetic industry. They will also be tested for use in the production of other potential compounds with improved biological activity and properties. FAE and GE available within the consortium, including those from Dyadic’s own proprietary enzyme library, may be improved by site-directed mutagenesis and directed evolution to further improve the desired properties.
Wim van der Wilden, General Manager of Dyadic Netherlands, added “We will utilize both our proprietary C1 enzyme library as well as our patented C1 technology to produce the specific targeted FAE and GE enzymes. In addition, strain improvement and fermentation optimization will then be implemented to reduce production costs and allow for industrial scale production. Our C1 platform will be a key enabling technology in this large consortium.”
Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries. Dyadic utilizes an integrated technology platform based on its patented and proprietary C1 microorganism, which enables the development and large scale manufacture of low cost enzymes and other proteins for diverse market opportunities. The C1 platform technology can also be used to screen for the discovery of novel genes. In addition to the sale of proprietary enzyme products, Dyadic actively pursues licensing arrangements and other commercial opportunities to leverage the value of these technologies by providing its partners and collaborators with the benefits of manufacturing and/or utilizing the enzymes and other proteins which these technologies help produce. Please visit Dyadic’s website at www.dyadic.com.
Dyadic trades on the OTCQX tier of the OTC marketplace. Investors can find real-time quotes, market information and financial reports for Dyadic on the OTC marketplace website at (www.otcmarkets.com/stock/DYAI/quote).
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release are “forward-looking statements” within the meaning of the federal securities laws. Statements about our beliefs and expectations regarding our technology platform, our licensing strategy, research efforts and production capabilities may constitute forward-looking statements. These forward-looking statements involve risks, uncertainties and other factors that could cause Dyadic’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Investors are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements speak only as of the date of this press release and, except as required by law, Dyadic expressly disclaims any intent or obligation to update or revise any forward-looking statements to reflect actual results, any changes in expectations or any change in events. If Dyadic does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. Factors that could cause results to differ materially include, but are not limited to: (1) whether the research project will result in any new products; (2) whether the research project will result in any new collaboration or licensing agreements; (3) Dyadic’s research and development efforts, and (4) other factors discussed in Dyadic’s publicly available filings, including the risk factors included in Dyadic’s Initial Information and Disclosure Statement filed with the OTC Markets Group on March 11, 2014.
SOURCE Dyadic International, Inc.