JUPITER, Fla. and DHAKA, Bangladesh, June 21, 2023 (GLOBE NEWSWIRE) -- Dyadic
International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) (NASDAQ:
DYAI), 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, today announced that
it has entered into a Memorandum of Understanding (“MoU”) with Essential Drugs
Company Limited (EDCL), the state owned pharmaceutical company under the
Ministry of Health and Family Welfare of Bangladesh to facilitate
biopharmaceutical research, pre-clinical development, cGMP production,
clinical trials, regulatory and other relevant areas of interest in
Bangladesh.
“We are pleased to announce this strategic partnership with the government of
Bangladesh, which demonstrates the company’s continued ability to leverage its
proprietary C1 protein production platform to enhance, and in certain cases
facilitate, the development and biomanufacturing infrastructure globally,”
said Mark Emalfarb, Dyadic's President, and Chief Executive Officer. “Our
primary focus remains speeding the adoption of our microbial platforms for use
in developing and manufacturing biopharmaceutical vaccines and drugs faster,
in larger quantities more affordably in developed and developing countries.
This MoU is in line with Dyadic’s mission to help build the infrastructure in
developing countries to increase access and affordability of biomanufacturing
vaccines and drugs for infectious and other diseases that are being
underserved.”
“Prime Minister of Bangladesh Sheikh Hasina time and again reiterates her
sincere commitment for research and innovation. This MoU with the Government
of Bangladesh will meet the demands of the people in Bangladesh. Working with
American, European and other scientists in collaboration with Dyadic our youth
can form long term research collaborations to discover new therapies for
intractable diseases. My government will provide unflinching support to
leverage such endeavor to benefit all nations in equal measures. Continuing to
improve the health and well-being of our citizens is a key goal, vital for our
ongoing success and there is increasing recognition that with systematic
development of equal partnerships with developed nations and global companies,
we can achieve this as well as actively contribute to the health of other
nations. Initiatives such as these demonstrate and emphasise to the world how
Bangladesh is transforming into a viable and increasingly valued, global
partner.”
“Our collaboration with Dyadic is intended to facilitate cGMP biomanufacturing
capacity development in terms of human resources and infrastructure in the
field of biopharmaceutical research, pre-clinical vaccine and drug development
and cGMP production, clinical trials, regulatory and other relevant areas of
interest,” said Zahed Malek Bangladesh’s Minister of Health. “This
collaboration has been spear headed in line with the honorable Prime
Minister’s vision 2041 for creating a knowledge-based economy for a prosperous
self-reliant Bangladesh to benefit our citizens as well as the global
population.”
“Starting in 2021, we began working with Dyadic to develop a strategic plan
that will be sustainable and affordable to address Bangladesh’s national bio
security interests and to promote research, training, and dissemination of
knowledge on health technology including but not limited to COVID-19 protein
subunit vaccine development for the prevention and control of infectious and
other diseases and improvement of public health programs within our country,”
said Prof. (Dr) Ehsanul Kabir, Managing Director & CEO of Essential Drugs
Company Limited. “I am very excited to go on this journey with Dyadic and
their global scientific collaborators to increase access to affordable
vaccines and drugs for everyone on the planet.”
About Essential Drugs Company Limited (EDCL)
Essential Drugs Company Limited (EDCL) is a 100% state owned Pharmaceuticals
Company in Bangladesh. In the year 1962 it was functioning under the then
Central Government in the name & style of Government Pharmaceuticals
Laboratory (GPL) and subsequently it was renamed as Pharmaceuticals Production
Unit (PPU) in the year 1979. In the interest of Public Health & smooth running
of the organization, it was registered as a Public Limited Company under the
Company’s Act-1994. The Ministry of Health & Family Welfare of Bangladesh is
its controlling authority. It was established in 1983 with the main objective
of setting up an advanced pharmaceuticals industry in the country for the
local production of medicines and to supply these products inside the country
for public health and for Export.
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 and alternative proteins
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 Dapibus™ 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 https://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 and
interest in our protein production platforms, 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. Rawson
Chief Financial Officer Phone: (561) 743-8333
Email: ir@dyadic.com
