Dyadic Partners with Scripps Florida to Annotate Dyadic's Proprietary C1 Genome; Project Expected to Facilitate Development of
March 31 2006 - 8:01AM
Business Wire
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.
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