Dyadic (AMEX:DIL)
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Dyadic International, Inc. (AMEX:DIL), a biotechnology
company, announced today that it has engaged The Scripps Research
Institute to work with Dyadic scientists to provide a complete
annotation of the genome of Dyadic's proprietary fungal organism,
Chrysosporium lucknowense ("C1"), which was sequenced by another
vendor last year. The work will be carried out at the Scripps' new
research center in Palm Beach County, Florida, under the direction of
Dr. Nick Tsinoremas, Senior Director of Informatics at Scripps
Florida. Financial details of the agreement were not disclosed.
Dr. Glenn Nedwin, Chief Scientific Officer of Dyadic, explained,
"The annotated searchable genomic sequence and associated gene
database developed by Dr. Tsinoremas and his team at Scripps Florida
will serve as a blueprint for the C1 host strain that forms the basis
for Dyadic's platform technology. We expect this knowledge to
facilitate further development of our proprietary C1 Host Technology
as a robust platform for the discovery, development and production of
biotherapeutics, enzymes and other biomolecules for medical and
industrial applications. We also expect that this knowledge will
enable us to accelerate the pace at which we identify new enzyme
product candidates from C1 for diverse industries such as textiles,
pulp and paper, food and feed, and cellulosic ethanol."
"As one of the world's leading biomedical research institutes,
Scripps is the ideal partner for Dyadic to complete this work," added
Dr. Richard Burlingame, Executive Director of R&D for Dyadic. "Dr.
Tsinoremas and his group bring world class knowledge and experience in
genomic annotation to this project. Before joining Scripps Florida, he
served as director of Computational Genomics and Genomic Discovery at
Merck/Rosetta. What is more, this collaboration will help broaden and
deepen the already close and productive relationship that is
developing between scientists at Dyadic and Scripps. We also welcome
the opportunity to participate in the development of a successful
biotechnology cluster in South Florida, and expect that this is just
the first of many collaborations with Scripps."
Dr. Richard Lerner, President of The Scripps Research Institute,
said, "In addition to its potential contributions to Dyadic's success,
this partnership for our new Palm Beach County-based research group
also will benefit Scripps Florida and the broader scientific
community. Because relatively few fungal genomes have been sequenced
and annotated to date, our work on Dyadic's C1 host strain will
increase the body of knowledge on this important class of lower
eukaryotes. We expect that the information gained through the
comparative genomics of fungi will provide insights into eukaryotic
cellular processes, and provide important clues for the treatment of
genetic, metabolic and infectious diseases."
About Scripps
The Scripps Research Institute, headquartered in La Jolla,
California, in 18 buildings on 40 acres overlooking the Pacific Ocean,
is one of the world's largest independent, non-profit biomedical
research organizations. It stands at the forefront of basic biomedical
science that seeks to comprehend the most fundamental processes of
life. Scripps Research is internationally recognized for its research
into immunology, molecular and cellular biology, chemistry,
neurosciences, autoimmune, cardiovascular, and infectious diseases,
and synthetic vaccine development. Established in its current
configuration in 1961, it employs approximately 3,000 scientists,
postdoctoral fellows, scientific and other technicians, doctoral
degree graduate students, and administrative and technical support
personnel.
Scripps Florida, a 364,000 square-foot, state-of-the-art
biomedical research facility, will be built in Palm Beach County. The
facility will focus on basic biomedical science, drug discovery, and
technology development. Palm Beach County and the State of Florida
have provided start-up economic packages for development, building,
staffing, and equipping the campus. Scripps Florida now operates with
approximately 160 scientists, technicians, and administrative staff at
40,000 square-foot lab facilities on the Florida Atlantic University
campus in Jupiter.
About Dyadic
Dyadic International, Inc. is engaged in the development,
manufacture and sale of biological products using a number of
proprietary fungal strains to produce enzymes and other biomaterials,
principally focused on a system for protein production based on the
patented Chrysosporium lucknowense fungus, known as C1. Dyadic
currently sells more than 45 liquid and dry enzyme products to more
than 200 industrial customers in approximately 50 countries.
Dyadic intends to utilize its patented enabling and proprietary
platform technologies on its own behalf and under license to business
collaborators for the discovery, development and manufacture of
biological products from genes to produce targeted protein products
for diverse markets.
Cautionary Statement for Forward-Looking Statements
Certain statements contained in this press release are
"forward-looking statements." These forward-looking statements involve
risks and uncertainties that could cause our actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. For a discussion of these risks and
uncertainties, please see our filings from time to time with the
Securities and Exchange Commission, which are available free of charge
on the SEC's web site at http://www.sec.gov, including our Annual
Report on Form 10-KSB for the year ended December 31, 2005. Except as
required by law, we expressly disclaim any intent or obligation to
update any forward-looking statements.