Dyadic International Inc (NASDAQ:DYAI) announced Wednesday that it is teaming up with Serum Institute of India Private Limited to develop and manufacture affordable and accessible antibodies and vaccines for worldwide use.
One of the world's largest vaccine makers, Serum will collaborate with Dyadic on up to 12 antibodies and vaccines (8 MABs and 4 rVaccines) using Dyadic's proprietary C1 gene expression platform, Dyadic said in a statement.
Dyadic’s stock recently traded 4.5% higher to $3.45 a share.
Serum, based in Pune, India, will undertake best efforts to fully develop and commercialize the proteins expressed from Dyadic's C1 technology, Dyadic said.
In addition, Dyadic has agreed to grant Serum the option to obtain an exclusive commercial sublicense for each of the 12 proteins in return for certain research funding, milestone payments and royalties for 15 years from the date of the first commercial sale, according to the statement.
“Our goal is to offer our C1 gene expression platform to biotech and pharmaceutical companies as well as renowned institutes and governmental agencies that are committed to reducing the cost of healthcare and saving lives,” said Dyadic CEO Mark Emalfarb.
The Jupiter, Florida-based biotechnology platform company’s C1 gene expression platform is a a fungal expression technology for producing enzymes to help bring biologic vaccines, therapeutic enzymes, proteins, biosimilars and drugs to market faster and at a lower cost.
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