Dyadic International, Inc. ("Dyadic", "we", "us", "our", or the
"Company") (NASDAQ: DYAI), a global biotechnology company focused
on building innovative microbial protein production platforms to
address the growing demand for global protein bioproduction and
unmet clinical needs for effective, affordable and accessible
biopharmaceutical products for human and animal health, today
applauds the signing of an agreement between Dyadic’s African
licensee, Rubic One Health (“Rubic”) and Afreximaxbank to fund the
project preparatory facility for the manufacture of vaccines using
Dyadic’s C1 protein production platform in South Africa for the
entire continent.
In April 2023, Dyadic expanded its licensing
agreement with Rubic, a South African-based company whose mission
is to develop African-based solutions for the discovery,
development, evaluation and manufacture of high-quality,
cost-effective human and animal vaccines and therapeutic proteins
using Dyadic’s C1 expression platform for distribution primarily to
the African market. The quest to produce affordable vaccines suited
to humans and animals in Africa has taken a step closer to
realization with the signing of the agreement between Rubic and
Afreximaxbank.
“We are excited Rubic has secured resources to
accelerate the development of critical human and animal health
vaccines and biologics in furtherance of its mission to develop an
end-to-end solution for biologic vaccines and drugs that addresses
the significant health gap in Africa,” said Mark Emalfarb, Dyadic’s
Chief Executive Officer. “In addition to taking a step forward in
providing affordable vaccine and antibody solutions for the African
continent, we expect this agreement will also expand potential
opportunities for the commercialization of multiple products for
animal and human health using the Company’s proprietary and
patented C1 platform.”
Mr. Emalfarb continued, “Dyadic’s agreement with
Rubic includes an equity stake in Rubic and individual product
royalties upon commercialization. Dyadic retains the right to
commercialize human and animal health vaccines and therapeutics
developed by Rubic outside of the African continent. We anticipate
expanding our relationship with Rubic to include biologic vaccines
and medicines for key infectious and other disease areas beyond
COVID, such as HIV, and cancers utilizing our proprietary and
patented C1 protein expression platform.”
“Africa imports approximately 96% of its
vaccines and has very limited manufacturing capacity. We realized
early in the COVID-19 pandemic that there is significant vaccine
inequity in Africa, and that we are at the mercy of big pharma and
developed countries. This historic agreement with Afreximaxbank to
fund the project preparatory facility for the manufacture of
vaccines has the potential for affordable vaccines for Africans by
Africans, which is now a step closer to reality,” said Dr. Julian
Naidoo, Chief Executive Officer of Rubic One Health. Dr. Naidoo
continued, “We intend to utilize this funding to address this
failure by the market by improving access to locally manufactured
vaccines and medicines through our license agreement with Dyadic
using their C1 fungal expression system for the development and
manufacture of both animal and human vaccines and therapeutics.
Through our collaboration with Dyadic, we expect to bring much
needed high demand vaccines to the African Continent that are safe,
effective, and affordable which are better suited for African
conditions as they do not need ultra cold production or storage
which can be distributed safely in remote and rural areas of the
African continent. This is a game changer in the vaccine
manufacturing space for the African people,” concluded Dr.
Naidoo.
About Rubic One Health
Rubic One Health is made up of promoters of the
project representing public health, medical, academia, vaccine
technology, technology transfer and economics sectors. Development
and the implementation of vaccine technologies is overseen by
leading academics directed by the University of the Witwatersrand,
Johannesburg (Wits) academic team, with the support of Wits Health
Consortium (WHC), a wholly owned company of Wits. The Consortium
collectively has a long track record in the fields of vaccinology,
public health medicine, clinical trials, research, technology
transfer, project management and health economics. This entity will
coordinate the project, ensuring a synergistic outcome between the
components of drug discovery/research and manufacture. It will also
drive the strategic and operational direction. This will be
accomplished by engaging with stakeholders and public health
experts and academics to ensure that the company moves forward in a
sustainable, Afro-centric manner, rooted in public good. Please
visit Rubic’s website at https://www.rubiconehealth.co.za for
additional information.
About Dyadic International,
Inc.
Dyadic International, Inc. is a global
biotechnology company focused on building innovative microbial
platforms to address the growing demand for global protein
bioproduction and unmet clinical needs for effective, affordable,
and accessible biopharmaceutical products for human and animal
health.
Dyadic’s gene expression and protein production
platforms are based on the highly productive and scalable fungus
Thermothelomyces heterothallica (formerly Myceliophthora
thermophila). Our lead technology, C1-cell protein production
platform, is based on an industrially proven microorganism (named
C1), which is currently used to speed development, lower production
costs, and improve performance of biologic vaccines and drugs at
flexible commercial scales for the human and animal health markets.
Dyadic has also developed the DapibusTM filamentous fungal
based microbial protein production platform to enable the rapid
development and large-scale manufacture of low-cost proteins,
metabolites, and other biologic products for use in
non-pharmaceutical applications, such as food, nutrition, and
wellness.
With a passion to enable our partners and
collaborators to develop effective preventative and therapeutic
treatments in both developed and emerging countries, Dyadic is
building an active pipeline by advancing its proprietary microbial
platform technologies, including our lead asset DYAI-100 COVID-19
vaccine candidate, as well as other biologic vaccines, antibodies,
and other biological products.
To learn more about Dyadic and our commitment to
helping bring vaccines and other biologic products to market
faster, in greater volumes and at lower cost, please visit
http://www.dyadic.com.
Safe Harbor
Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
including those regarding Dyadic International’s expectations,
intentions, strategies, and beliefs pertaining to future events or
future financial performance, such as the success of our clinical
trial, our research projects and third-party collaborations, as
well as the availability of necessary funding. Actual events or
results may differ materially from those in the forward-looking
statements because of various important factors, including those
described in the Company’s most recent filings with the SEC. Dyadic
assumes no obligation to update publicly any such forward-looking
statements, whether because of new information, future events or
otherwise. For a more complete description of the risks that could
cause our actual results to differ from our current expectations,
please see the section entitled “Risk Factors” in Dyadic’s annual
reports on Form 10-K and quarterly reports on Form 10-Q filed with
the SEC, as such factors may be updated from time to time in
Dyadic’s periodic filings with the SEC, which are accessible on the
SEC’s website and at www.dyadic.com.
Contact:
Dyadic International, Inc.Ping W. RawsonChief
Financial OfficerPhone: (561) 743-8333Email: ir@dyadic.com
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