DuPont Industrial Biosciences agrees to purchase enzyme and technology assets from Dyadic International, Inc., including Dyadic’s C1 platform, a fungal expression technology for producing enzymes. The transaction extends the biotechnology capabilities of DuPont’s Industrial Biosciences business.
The transaction comes at the same time that DuPont launches its cellulosic ethanol business. In July, DuPont signed an agreement to license its technology and supply enzymes to Jilin Province New Tianlong Industry Co., and is starting up a 30-million gallon cellulosic biorefinery in Iowa. Dyadic has conducted extensive enzyme research and developed business relationships in the area of biofuels, which supports DuPont’s position in the cellulosic space, according to the company.
Under the terms of the agreement, DuPont will pay $75 million to acquire Dyadic’s enzyme technologies and offerings, which include the C1 technology as well as liquid and dry enzyme products used in a broad range of industries. Dyadic’s research and development lab located in the Netherlands will become part of DuPont Industrial Biosciences. The proposed transaction is subject to approval by Dyadic shareholders, and is expected to close toward the end of 2015, subject to customary closing conditions.
For more information, visit: www.dupont.com