The starting bell has rung
Dyadic Announces Sub-Licensing Agreement with Luina Bio
ACCESSWIRE ACCESSWIRE•April 30, 2019
JUPITER, FL / ACCESSWIRE / April 30, 2019 / Dyadic International, Inc. (''Dyadic'') (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, drugs and other biologic products, at flexible commercial scales, is pleased to announce it has entered into a worldwide sub-licensing agreement with Australian based drug development and contract manufacturing organization, Luina Bio Pty Ltd (''Luina Bio''), for the development and commercialization of certain targeted antigen and biological products for the prevention and treatment of various ailments for companion animals using Dyadic's proprietary C1 gene expression platform.
Dyadic's Chief Executive Officer, Mark Emalfarb, said ''We are very excited to announce this sub-licensing agreement with Luina Bio. Luina Bio has over 20 years of GMP contract manufacturing and drug development experience in human and animal health products, including recombinant proteins and vaccines.'' Matthew Jones, Dyadic's Chief Commercial Officer added that, ''we believe that our proprietary C1 gene expression platform coupled with Luina Bio's animal health drug development expertise will bring us another step closer to achieving our mission to help speed the development and lower the cost of biologic drugs for human and animal health.''
Luina Bio's Executive Chairman, Chris Burrell, said ''We are thrilled to be working with Dyadic to develop and commercialize a number of targeted products for use in the prevention and treatment of various ailments for companion animals.'' Mr. Burrell further commented, ''Continued population growth, urbanization and rising per capita income is seeing the rate of pet ownership globally continue to rise year on year. As pet ownership rates continue to rise so too will the standard of living for pets. In turn, animal health medicines and vaccines will be required in greater volumes. Our goal is to utilize Dyadic's C1 proprietary gene expression platform to not only speed up the development of new animal health medicines and vaccines but to lower the cost for such products making them more accessible to more people and their pets.''
Under the worldwide sub-licensing agreement, Dyadic will receive 20% equity in a new joint venture company, Novovet Pty Ltd, and a percentage of royalties on net sales and non-sales revenue which incorporates Dyadic's proprietary C1 gene expression platform.
