Dyadic International, Inc. (OTCMKTS:DYAI) Files An 8-K Entry into a Material Definitive Agreement

Dyadic International, Inc. (OTCMKTS:DYAI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

On June 24, 2020, Dyadic International, Inc. (“Dyadic” or the “Company”) entered into an Amended and Restated Non-Exclusive Sub-License Agreement (the “Amended Sub-License Agreement”) with Alphazyme, LLC (“Alphazyme”) to amend and restate the prior agreement dated May 5, 2019.
Under the terms of the Amended Sub-License Agreement, the Company has granted to Alphazyme, subject to the terms of the license agreement entered into between the Company and Danisco US, Inc. on December 31, 2015, a non-exclusive sub-license to certain patent rights and know-how related to Dyadic\’s proprietary C1 gene expression platform for the purpose of commercializing certain pharmaceutical products that are used as reagents to catalyze a chemical reaction to detect, measure, or be used as a process intermediate to produce a nucleic acid as a therapeutic or diagnostic agent.
In consideration of the Amended Sub-License Agreement and the transfer of C1 technology, Alphazyme is obligated to issue the Company 2.5% of the Class A shares of Alphazyme. In addition, and subject to achieving certain milestones, Alphazyme is obligated to pay a potential future payment and a percentage of royalties on net sales which incorporate Dyadic\’s proprietary C1 gene expression platform. The Amended Sub-License Agreement is nonexclusive.
The foregoing description of the Amended Sub-License Agreement 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.
DYADIC INTERNATIONAL INC Exhibit
EX-10.1 2 ex-101amendedandrestat.htm EX-10.1 DocumentExecution VersionPortions 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 “[***]”.AMENDED AND RESTATED NON-EXCLUSIVE SUBLICENSE AGREEMENTThis Amended and Restated Non-Exclusive Sublicense Agreement (“Agreement”) is entered into as of this 24th day of June,…
To view the full exhibit click here

Story continues below

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.

An ad to help with our costs