Dyadic and sorrento announce binding term sheet to license dyadic's lead covid-19 vaccine candidate “dyai-100” and c1 technology for protein-based coronavirus vaccines and therapeutics
Jupiter, fla., aug. 11, 2021 (globe newswire) -- dyadic international, inc. (“dyadic”, “we”, “us”, “our”, or the “company”) (nasdaq: dyai), a global biotechnology company focused on further improving, applying and deploying its proprietary c1-cell protein production platform to accelerate development, lower production costs and improve access to biologic vaccines and drugs at flexible commercial scales, and sorrento therapeutics, inc. ("sorrento") (nasdaq: srne), a clinical stage biopharmaceutical company developing new therapies to treat cancer, pain and covid-19, today announced the signing of a binding term sheet to enter into a license agreement to develop and commercialize vaccines, therapeutics, and diagnostics for coronaviruses, including dyadic's lead covid-19 vaccine candidate, dyai-100, produced using dyadic's proprietary and patented c1-cell protein production platform. the final terms of the license will be set forth in a definitive agreement to be entered into between the parties.
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