Dyadic International Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits
$DYAI
Biotechnology: Biological Products (No Diagnostic Substances)
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): June 27, 2024
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Item 1.01. Entry into a Material Definitive Agreement.
On June 27, 2024, Dyadic International, Inc. (“Dyadic”) entered into a License and Development Agreement (the “Agreement”) with Proliant Biologicals, LLC d/b/a Proliant Health and Biologicals (“Proliant”), pursuant to which Proliant will license Dyadic’s proprietary fungal microbial expression and production platforms and microbial strains from Dyadic for the production of recombinant serum albumin. Under the terms of the Agreement, Dyadic will receive an initial upfront payment of $500,000. Dyadic will receive a second payment of $500,000 upon the completion of the transfer of a Production Strain (as defined in the Agreement.) Dyadic will receive a final payment of $500,000 upon the meeting of a certain productivity threshold. Dyadic also will receive a share of the profits received by Proliant from the sale of animal-free recombinant serum albumin products produced pursuant to the Agreement. The foregoing description of the Agreement is only a summary of the material terms thereof, does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On June 28, 2024, Dyadic issued a press release related to the Agreement. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference, other than the third and fourth paragraphs of the press release.
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Item 9.01 Financial Statements and Exhibits
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(d) Exhibits
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Exhibit
Number
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Description
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| 10.1(1) | License and Development Agreement between Dyadic International, Inc. and Proliant Biologicals, LLC d/b/a Proliant Health and Biologicals, dated June 27, 2024. | |
| 99.1 | Dyadic International, Inc. Press Release Dated June 28, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
(1)Certain provisions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 02, 2024
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Dyadic International, Inc.
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By:
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/s/ Mark A. Emalfarb
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Name:
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Mark A. Emalfarb
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Title:
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Chief Executive Officer
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