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Pharma Tech Outlook | Tuesday, August 17, 2021
Dyadic and Sorrento Partner to utilize Dyadic’s C1 technology for the development and commercialization of vaccines, therapeutic antibodies, protein therapeutics, and diagnostics for coronavirus.
Fremont, CA: Dyadic International and Sorrento Therapeutics, Inc announce the signing of a binding term sheet to enter into a License Agreement for the development and commercialization of vaccines, therapeutics, and diagnostics for coronaviruses, including Dyadic's lead COVID-19 vaccine candidate, DYAI-100, produced using Dyadic's proprietary and patented C1-cell protein production platform. The closing terms of the license will be described in a definitive agreement to be entered among the parties.
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Sorrento’s Chairman and CEO, Dr. Henry Ji, commented, “We look forward to continuing our collaboration with Dyadic, which began last year, initially with a goal of developing and commercializing a protein-based COVID-19 vaccine that can be rapidly manufactured in large quantities in our existing cGMP facilities, and stored and transported at room temperature, in order to increase access and affordability to underserved populations globally.” Dr. Ji continued, “Over the past six months we have carried out several promising preclinical animal trials using the C1 produced RBD antigen in Dyadic’s lead COVID-19 vaccine candidate, DYAI-100. Our goal is to manufacture a COVID-19 vaccine that will provide protection across the variants of concern, including Delta, and in addition, apply the C1 protein production platform broadly across our current and future coronavirus programs.”
Mark Emalfarb, Dyadic’s President and CEO, said, “We are delighted to have executed a binding term-sheet with Sorrento Therapeutics to license the C1 technology for the development and commercialization of coronavirus vaccines, therapeutics, and diagnostics, including COVID-19. This marks a significant milestone in our corporate development efforts as we expect the license agreement we will enter into to enable us to monetize our internal COVID-19 development efforts with a partner that has the resources and expertise to advance vaccines, therapeutics, and diagnostics both clinically and commercially.”
Mr. Michael Tarnok, Dyadics Board Chairman, noted, “This is a significant event for Dyadic and humankind globally, having achieved our goal of creating a pathway that potentially addresses the COVID-19 vaccine production gap for mass scale immunizations and treatments across the globe, quickly and efficiently. The Sorrento license will cover all other territories not already covered by Dyadics existing COVID-19 agreements with Medytox, Syngene and the Rubic Consortium.”
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