A 3 PLUS DECADE ENTREPRENEURIAL JOURNEY “FROM JEANS TO GENES”
The rich history of Dyadic represents a microcosm of how modern biotechnology is revolutionizing science, medicine, agriculture, and engineering to improve how we feed, fuel, and heal the world.
Going forward we intend to focus on on the pharmaceutical industry which we have long believed is one of the most attractive opportunities in which to apply the C1 technology. We believe that the C1 technology platform has the potential to be a safe and efficient expression system to help pharmaceutical and biotech companies speed up the development and lower the cost of manufacturing biologic vaccines and drugs to bring more affordable treatments to a greater number of patients, while helping to ease the burden biologic drugs are having on patients and the global healthcare systems, but most importantly saving lives.
For Dyadic, the journey can be described as going from “Jeans to Genes”: pioneering the use of pumice stones to stonewash blue jeans in the early 1980s, shifting along with the industry to enzymes in the middle of the decade, then beginning a new journey with the discovery of a filamentous fungal strain, nicknamed C1, suitable for producing cellulase and other enzymes in the early 1990s. Over the next two decades, Dyadic has built the knowledge, expertise, molecular tools, and technology needed to create and commercialize one of the world’s premiere gene expression systems, the C1 Technology Platform. During C1’s development, we identified two serendipitous mutations: the first changed the morphology of our organism, resulting in high productivity and better growth conditions; the second created our C1 White StrainTM, which allows for the production of purer enzymes and other proteins at high productivity.
On December 31, 2015 Dyadic sold substantially all the assets of its Industrial Technology business to DuPont’s Industrial Biosciences business for US$75 million in cash. Following completion of the transaction, Dyadic intends to focus exclusively on its biopharmaceutical business. DuPont has granted back to Dyadic co-exclusive rights to the C1 technology for use in human and animal pharmaceutical applications, with exclusive ability to enter into sub-license agreements in that field.
The combination of a portion of the proceeds from the US$75 million DuPont transaction and additional industry and government funding that will be sought are expected to provide Dyadic with the ability to focus on and accelerate the further development and optimization of the C1 technology in the area of biopharmaceuticals. In addition, the unique attributes of C1 may create attractive licensing opportunities through operational efficiencies and reduced requirements for licensee capital expenditures.
With the speed of advancements in synthetic genomics and biotechnology, which some experts say is happening faster than Moore’s Law, it is vital to bridge the gap between high yield, low cost, large scale industrial biotechnology, and low yield, high cost, small scale biopharmaceuticals. We believe C1 can help bridge this gap and we are now starting to introduce this breakthrough technology to the biopharmaceutical industry.
Dyadic today is still led by its pioneering founder, and its management team has a unique mix of established industry veterans.
DYADIC IS SEEKING PARTNERSHIPS TO SUB-LICENSE OR PARTNER ITS C1 PLATFORM TECHNOLOGY IN THE VACCINE, ANTIBODY AND BIOSIMILAR INDUSTRIES
C1 “INSIDE®” BIOPHARMACEUTICALS BRINGS DIVERSE OPPORTUNITIES