16.05.2013 - German BASF AG has licensed Dyadic International's fungal enzyme manufacturing platform.
The German chemistry major will pay US$6m upfront to access Dyadic's C1 platform technology via a non-exclusive worldwide research and licence agreement. Under the term of the contract, BASF will fund research and development at Dyadic's research lab in the Netherlands and will use its thermophilic fungus Myceliopthora thermophila to develop, produce, distribute and sell industrial enzymes for a variety of applications. The US-headquartered company will cash in certain research and commercial milestone fees, as well as royalties upon commercialisation.
"Dyadic's C1 technology will strengthen BASF's position in the industrial enzyme industry," said Dr. Carsten Sieden, Senior Vice President Fine Chemicals and Biocatalysis Research, BASF. "We expect this license agreement with Dyadic to result in promising long-term opportunities."
Dyadic's technology platform can be used for development and large scale manufacture of low cost proteins and enzymes as well as for screening of novel genes and proteins. On the same day, BASF announced it has broadened its existing collaboration with Cologne-based Direvo Industrial Biotechnology GmbH, an expert in enzyme development and optimisation. The companies announced they will jointly develop a highly efficient protease for pig and poultry nutrition. Financial details were not disclosed.