Dyadic and Medytox To Develop Vaccines Against COVID-19 Variants

• Expanding existing COVID-19 vaccine research collaboration which began in July 2020.
• Medytox and Dyadic to co-develop C1 enabled COVID-19 vaccines and/or boosters which will immunize people against two or more of the current and future COVID-19 variants (e.g., tetravalent or quadrivalent COVID-19 vaccines)
• Exclusive license for Republic of Korea and multiple Southeast Asian countries, if successful
• Manufacturing protocols to produce vaccines from C1 have been successfully transferred and reproduced at Medytox

JUPITER, Fla., March 23, 2021 (GLOBE NEWSWIRE) -- Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) (NASDAQ: DYAI), a global biotechnology company focused on further improving, applying and deploying its proprietary C1-cell protein production platform to accelerate development, lower production costs and improve the performance of biologic vaccines and therapeutics at flexible commercial scales, today announced that the Company is expanding its partnership with South Korea’s Medytox, Inc. (“Medytox”), a global biopharmaceutical company with sales in approximately 60 countries. Dyadic and Medytox will co-develop C1 manufactured COVID-19 vaccines and/or boosters, which will, if successful, be used to immunize people against two or more of the current and future COVID-19 variants. This project can provide dedicated local supply, to help combat COVID-19, in this region of the world.

Dr. Gi-Hyeok Yang, Sr, Executive Vice President and Head of Research and Development at Medytox stated, “We are very excited to extend our collaboration with Dyadic and their C1 technology platform to partner in the co-development of C1 manufactured COVID-19 vaccines.” Dr. Yang continued, “We have been working closely with Dyadic since July 2020, when we obtained access to their C1 expression platform and experienced the remarkable versatility and high productivity of the C1 platform. Based on our experience and comparing the C1 technology platform against several other expression platforms such as CHO and insect cells, we believe that the fungi-derived C1 expression system is the most realistic technology to develop and manufacture multi-valent (i.e., tri-valent, and tetra-valent) vaccines, rapidly and affordably, against COVID-19 mutant viruses without the need for a large-scale bioreactor facility. Medytox has confidence that the C1 technology platform can play a critical role in helping combat COVID-19, which may continue to persist as a seasonal influenza and necessitate COVID-19 variant vaccine shots every year. We look forward to gaining additional experience with the C1 technology as it has potential for use in developing and producing a growing number of vaccines, drugs, and other biological products in addition to COVID-19. As a biopharmaceutical company, with multiple successful commercial products, we look forward to leveraging our proven world-class research and development and commercialization capabilities to expeditiously bring potential new C1 manufactured COVID-19 variant vaccines to market, to combat this deadly infectious disease.”