Dyadic Shares Rise 7% Premarket on Deal With Janssen Biotech
17 Dezember 2021 - 03:03PM
Dow Jones News
By Chris Wack
Dyadic International Inc. shares were up 7%, to $4.25, in Friday
premarket trading after the company said it has entered into a
research, license and collaboration agreement with Janssen Biotech
Inc.
Under the terms of the agreement, Janssen would pay Dyadic an
upfront payment of $500,000 for non-exclusive rights to utilize the
C1 platform to develop C1 production cell lines for the
manufacturing of Janssen's therapeutic protein candidates against
several biologic targets.
Janssen would provide R&D funding to develop and assess C1
production cell lines for its product candidates, and has the
option to pay a mid-seven figure payment for an exclusive license
from Dyadic to use the C1 platform for the manufacturing of
therapeutic proteins directed to one specific target.
For each product candidate, Dyadic could receive development and
regulatory milestones in the mid-seven figures. Dyadic could also
receive commercial milestone payments in the low nine figures per
product, subject to a limit on the number of such products. The
amount would depend on the cumulative amount of active
pharmaceutical ingredient produced by Janssen for each product
manufactured with Dyadic's C1 platform.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 17, 2021 08:48 ET (13:48 GMT)
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