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)

Copyright (c) 2021 Dow Jones & Company, Inc.
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