Dyadic announces sale of equity interest in alphazyme

Jupiter, fla., jan. 19, 2023 (globe newswire) -- dyadic international, inc. ("dyadic", or the "company") (nasdaq: dyai), a global biotechnology company focused on building innovative microbial platforms to address the growing demand for global protein production and unmet clinical needs for effective and affordable biopharmaceutical products for human and animal health, today announced that it received approximately $1.27 million in connection with the sale of its equity interest in alphazyme llc ("alphazyme"). dyadic received its equity as part of the consideration for the grant of a non-exclusive license to certain of dyadic's technology. additionally, under that arrangement dyadic has the right to receive milestone and royalty payments based on sales of c1 expressed products by alphazyme. dyadic also has the potential to receive additional payments based on the future sales of alphazyme's existing products.
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