Industry News

DuPont to Acquire Dyadic’s Enzyme-based Technologies and Offerings

Published on 2015-11-18. Author : SpecialChem

WILMINGTON, Del. -- DuPont Industrial Biosciences (DuPont) has signed an agreement to purchase enzyme and technology assets from Dyadic International, Inc., including Dyadic’s C1 platform, a fungal expression technology for producing enzymes. The transaction will further extend the world-leading biotechnology capabilities of DuPont’s Industrial Biosciences business.

DuPont to Acquire Dyadic’s Enzyme-based Technologies  DuPont to Acquire Dyadic’s Enzyme-based Technologies
Fig. 1: DuPont to Acquire Dyadic’s Enzyme-based Technologies

“The C1 platform complements DuPont’s world-class enzyme expression systems and provides additional operational flexibility to bring our strong innovation pipeline to market,” said DuPont Industrial Biosciences President William F. Feehery. “Further, with the acquisition of Dyadic’s commercial enzyme portfolio, we look forward to serving new customers and offering additional product choices to our existing customers in the animal nutrition, food and beverage, and other industrial markets.”

This transaction comes at a particularly exciting time for the company as DuPont launches its cellulosic ethanol business. In July, DuPont signed an agreement to license its technology and supply enzymes to Jilin Province New Tianlong Industry Co., and is starting up its own 30-million gallon cellulosic biorefinery in Iowa. Dyadic has conducted extensive enzyme research and developed business relationships in the area of biofuels which will further support DuPont’s leadership in the cellulosic space.

“We are very proud of the work the Dyadic team has done developing the C1 platform,” said Mark Emalfarb, Dyadic CEO. “We believe this transaction will allow for the application of this state-of-the-art technology in multiple industries and will create value for both Dyadic and DuPont shareholders.”

Under the terms of the agreement, DuPont will pay $75 million to acquire Dyadic’s enzyme technologies and offerings which include the C1 technology as well as liquid and dry enzyme products used in a broad range of industries. Dyadic’s research and development lab located in the Netherlands will become part of DuPont Industrial Biosciences. The proposed transaction is subject to approval by Dyadic shareholders, and would be expected to close toward the end of 2015, subject to customary closing conditions.

About DuPont

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment.

About Dyadic International

Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries. Dyadic utilizes an integrated technology platform based on its patented and proprietary C1 microorganism, which enables the development and large scale manufacture of low cost enzymes and other proteins for diverse market opportunities. The C1 platform technology can also be used to screen for the discovery of novel genes. In addition to the sale of proprietary enzyme products, Dyadic actively pursues licensing arrangements and other commercial opportunities to leverage the value of these technologies by providing its partners and collaborators with the benefits of manufacturing and/or utilizing the enzymes and other proteins which these technologies help produce.

Forward-Looking Statements

This document contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “believes,” “intends,” “estimates,” “anticipates” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, regulatory approval, market position, anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures and financial results, are forward looking statements. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company’s control. Some of the important factors that could cause the company’s actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting products based on biotechnology; significant litigation and environmental matters; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, weather events and natural disasters; ability to protect and enforce the company’s intellectual property rights; successful integration of acquired businesses and separation of underperforming or non-strategic assets or businesses, including timely realization of the expected benefits from the separation of Performance Chemicals. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.

Source: DuPont

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