Dyadic signs exclusive license deal with INZYMES for dairy enzymes; $0.6M upfront

DYADIC INTERNATIONAL INC

Dyadic receives $0.6M upfront for development and licensing of Dapibus platform to INZYMES.
Exclusive license targets non-animal dairy enzymes used in food production.
Potential success fees, milestones, and royalties beyond upfront payment.
Addressable alternative protein market cited at >$60B, growing to $190B by 2028.
Deal builds on previous success producing animal-free casein proteins.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

DYADIC INTERNATIONAL INC entered into Development and Exclusive License Agreement with INZYMES ApS valued at upfront payment of $0.6 million (effective 2023-09-18).

Action: entry
Agreement: license
Counterparty: INZYMES ApS
Value: upfront payment of $0.6 million
Effective: 2023-09-18

Exact text from the filing

On September 18, 2023, Dyadic International (USA), Inc., a subsidiary of Dyadic International, Inc. (“Dyadic” or the “Company”) signed a Development and Exclusive License Agreement (the “Agreement”) with INZYMES ApS (“INZYMES”), a Denmark corporation, to develop and commercialize certain non-animal dairy enzymes used in the production of food products using Dyadic’s proprietary DapibusTM platform.

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Source: SEC EDGAR

accession 0001437749-23-026258

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