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Dyadic International, Inc. ("Dyadic") (NASDAQ:DYAI), announced today that they have entered into a development and commercialization partnership with Proliant Health and Biologicals (PHB), a leading supplier of purified proteins for the diagnostic, nutrition and cell culture markets.
According to the terms of the agreement, Dyadic will receive an upfront milestone payment of $1.5MM and have agreed to a share of profits received by PHB from the sale of animal-free recombinant albumin products produced using Dyadic's filamentous fungal microbial platforms. A portion of the upfront milestone payment will be allocated to the technology transfer and commercialization effort. The initial focus of the partnership will be the commercialization of recombinant human serum albumin products, with the anticipated launch of the first product in the first half of 2025.
Posted In: DYAI
