Dyadic International Stock Jumps Research, License and Collaboration Agreement with Janssen for the Manufacture of Therapeutic Protein
Dec 17, 2021 By MarketDepth
Dyadic International, Inc. (NASDAQ: DYAI) is up about 18% after the biotechnology platform company that it has entered into a Research, License and Collaboration Agreement (“Agreement”) with Janssen Biotech, Inc. (‘’Janssen”), one of the Janssen Pharmaceutical Companies of Johnson & Johnson. The Agreement was facilitated by Johnson & Johnson Innovation.
“We are excited to announce this strategic partnership with Janssen using our C1-cell protein production platform. We continue to expand our partnerships across a growing number of therapeutic areas, and we continue to believe in the broad utility of Dyadic’s C1 technology.”Mark Emalfarb, Dyadic’s President and Chief Executive Officer
Some of the terms under the Agreement:
- Janssen will pay Dyadic 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 up to €1.6 million to develop and assess C1 production cell lines for its product candidates.
- Janssen has the option to pay a mid-seven figure payment for an exclusive license from Dyadic to use the C1 platform for the manufacturing of therapeutic proteins directed to one specific target.
Dyadic International develops, produces, and sells enzymes and other proteins in the United States. The company utilizes its patented and proprietary C1 technology and other technologies to conduct research, development, and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus like particles and antigens, monoclonal antibodies, fab antibody fragments, Fc-fusion proteins, biosimilars and/or biobetters, and other therapeutic enzymes and proteins.