Dyadic Enters into R&D Agreement with Abengoa Bioenergy in the Area of Cellulosic Ethanol Production
27 October 2006
|Chrysosporium lucknowense is the basis for Dyadic’s enzyme work.|
Dyadic International, a biotechnology company, has signed a three-year research and development (R&D) agreement and a $10-million stock purchase agreement with Abengoa Bioenergy R&D (ABRD).
Dyadic will use the proceeds from this private sale to fund its R&D obligations under the R&D agreement, which has as its objective the development of a cost-effective enzyme production system for commercial application in Abengoa Bioenergy’s cellulosic ethanol production process.
|Dyadic will work on enzyme mixtures optimized for different biomass substrates. Click to enlarge.|
The R&D agreement calls upon Dyadic to use its proprietary technologies to develop one or more enzyme mixture manufacturing systems customized to ABRD’s proprietary biomass substrates. The R&D agreement contemplates that Dyadic will perform both foundational research of general application to the cellulosic ethanol field and specific applications research for the achievement of the goals of ABRD’s program.
Under the terms of the R&D agreement, if Dyadic successfully develops one or more enzyme manufacturing systems for Abengoa Bioenergy, Dyadic may be entitled to receive license fees, technology transfer fees and royalties on ethanol sales. Other financial terms were not disclosed.
Abengoa Bioenergy is considered to be the second largest ethanol producer in the world and a leader in the fields of both corn-derived and cellulose-derived ethanol production. We are extremely pleased to partner with Abengoa Bioenergy to leverage Dyadic’s patented C1 platform enzyme technology to enable commercial development of biomass derived ethanol.—Glenn E. Nedwin, Ph.D., Chief Science Officer for 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.
In July, Dyadic presented results of an internal study on Dyadic’s proprietary cellulase and hemicellulase mixes with strong saccharifying activity on a number of different lignocellulosic feedstocks, including Douglas fir and cotton.
An internal Dyadic study of two new highly active cellobiohydrolases isolated from C1, as well as a mixture of pure monocomponent enzymes, all demonstrated an extremely high ability to convert different cellulosic substrates to glucose to then be fermented into ethanol. (Earlier post.)
Dyadic is also developing C1 technology to facilitate the discovery, development and large-scale production of human antibodies and other high-value therapeutic proteins.
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