Dyadic International Inc (NASDAQ:DYAI) is joining the campaign to eradicate the coronavirus by collaborating with The Israel Institute for Biological Research (IIBR), a group set up by Israel to combat such threats.
The prestigious Israeli scientific organization intends to study the potential of Dyadic’s C1 gene expression platform to express gene sequences and targets developed by IIBR into an rVaccine candidate and monoclonal antibodies (mAbs) that could address the outbreak of COVID-19 or the coronavirus.
“Our collaboration with the IIBR is aimed at finding additional solutions to combat the COVID-19 coronavirus outbreak that threatens the lives of people in China and globally,” said Mark Emalfarb, CEO of Dyadic. “There is a global need to apply new platforms and technologies that will facilitate a fast, coordinated and practical response to new infectious diseases during pandemic and epidemic outbreaks or a bioterrorist attack and we believe that Dyadic’s C1 technology is well-positioned to contribute to this global effort.”
The research collaboration combines the advantages of IIBR’s scientific prowess with Dyadic’s latest business advances for its C1 gene expression platform, technology which lowers the manufacturing cost and improves the performance of vaccines and mAbs.
Noble Capital Markets last month reiterated its Outperform rating and an $11 price target for Dyadic International, noting that the company’s proprietary C1 enzyme production platform may help fight the coronavirus that has killed 132 people in China and infected thousands more worldwide.
“We believe C1 technology may provide low cost and high-efficiency approach to manufacture potential treatments to curtail the spread of coronavirus outbreak,” wrote Ahu Demir, a senior research analyst, in a note to investors.
The company's stock recently traded up less than 1% to $5.33 a share in New York.