On June 28, 2019, Dyadic International, Inc. (“Dyadic” or the “Company”) extended its research contract (\”Contract\”) through June 2022 with VTT Technical Research Centre of Finland Ltd. (“VTT”).

Under the terms of this Contract, Dyadic will pay VTT a total of 2.52 million euros over the next three years to continue developing Dyadic’s C1 fungal expression system for therapeutic protein production, including C1 host system improvement, glycoengineering, and management of third parties target proteins projects. VTT is subject to an additional success bonus up to 450,000 euros based on the technical targets stipulated in the Contract. Dyadic and its sublicensees will also have the right to use synthetic promoters developed by VTT with an access fee. Dyadic retains the right to terminate the Contract with 90 days\’ notice.

The foregoing description of the Contract is qualified in its entirety by reference to the complete terms and conditions of the agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 8.01 Other Events

On July 5, 2019, Dyadic issued a press release announcing the extension of its research contract with VTT in Item 1.01 on this Current Report on Form 8-K. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

DYADIC INTERNATIONAL INC Exhibit
EX-10.1 2 a101vttagreement.htm EXHIBIT 10.1 Exhibit Exhibit 10.1Portions of this Exhibit have been redacted because they are both (i) not material and (ii) would be competitively harmful if publicly disclosed. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”.COMMISSION CONTRACTPARTIESVTT Technical Research Centre of Finland Ltd.Business ID: 2647375-4Country of residence: Finland(hereinafter “VTT”) andDyadic International,…
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About Dyadic International, Inc. (OTCMKTS:DYAI)

Dyadic International, Inc. (Dyadic) is a holding company. The Company is a global biotechnology company with operations in the United States and the Netherlands. Dyadic uses its technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, bio-based chemicals, biopharmaceuticals and industrial enzymes industries. Its activities relating to selling enzymes focuses on utilizing its fungal strains and associated technologies. In particular, Dyadic uses its Trichoderma and C1 (Myceliopthora thermophila) fungal strains in the production of its industrial enzymes. Dyadic manufactures, purchases, and sells liquid and dry enzyme products to global customers for use within the animal feed, pulp and paper, starch and alcohol, food and brewing, textiles and biofuels industries. It is focused on biofuels and bio-based chemicals, biopharmaceuticals and industrial products.