DuPont Industrial Biosciences has created a agreement with Dyadic International Inc., to purchase enzyme and technology assists from the company. These assists include the fungal expression technology for producing enzymes, the C1 platform. This new agreement will all expand DuPont’s world-leading technology.
“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.”
The agreement states that DuPont will by Dyadic $75 million for the enzyme technology and the liquid and dry enzyme products used. Dyadic’s R&D laboratory in the Netherlands will transfer to DuPont as well.