Dyadic International Inc (DYAI)

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Research, License, and Collaboration Agreement with Janssen

https://finance.yahoo.com/news/dyai-jumpin-janssen-jamboree-092200577.html


Tue, December 21, 2021, 4:22 AM
In this article:


By John Vandermosten, CFA

NASDAQ:DYAI

READ THE DYAI RESEARCH REPORT

Research, License, and Collaboration Agreement with Janssen

On December 17, 2021, Dyadic International Inc. (NASDAQ:DYAI) released news that the company had entered into a research, license, and collaboration agreement with Janssen Biotech, Inc. one of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE:JNJ). The agreement was facilitated by Johnson & Johnson Innovation. Details of the structure of the Janssen agreement are provided in Dyadic’s latest 8-K; however, parameter specifics, including strategic targets and payment amounts, have been redacted. According to the provided exhibit, the therapeutic proteins that Dyadic is helping Janssen to produce are likely monoclonal antibodies, which was mentioned in the addendum to the 8-K that Dyadic supplied to the SEC. The antibody target(s), however, remain undisclosed, but the partnership is a testament to the abilities for Dyadic’s C1, fungal-based technology, to produce complex therapeutic proteins.

Under the terms of the agreement:

? Dyadic will receive an upfront payment of $500,000 for non-exclusive rights to utilize the C1 platform to develop C1 production cell lines for the manufacturing of Janssen's therapeutic protein candidates against several biologic targets;

? Janssen will provide R&D funding of up to $1.8 million1 to develop and assess C1 production cell lines for its candidates;

? Janssen has option to pay mid-seven figure payment for exclusive license to use C1 for manufacturing of therapeutic proteins directed to a single, specific target;[/quote]