DuPont to give Dyadic $75 million Christmas present in thanks for C1 platform

In Delaware, DuPont Industrial Biosciences has signed an agreement to purchase enzyme and technology assets from Dyadic International Inc., including Dyadic’s C1 platform, a fungal expression technology for producing enzymes. The transaction will further extend the world-leading biotechnology capabilities of DuPont’s Industrial Biosciences business.

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 would be expected to close toward the end of 2015, subject to customary closing conditions.