Skip to main content
Premium Trial:

Request an Annual Quote

Dyadic Raises $25.3 Million, Completes Merger to Become Public Company

NEW YORK, Nov. 8 (GenomeWeb News) - Dyadic International said last week that it has completed a series of financing transactions worth a total of $25.3 million.

 

"Coming on the heels of our successful private raise of $6.7 million earlier this year, the combined $32 million in funding further solidifies Dyadic's financial footing," President and CEO Mark Emalfarb said in a statement. "As previously announced, to accommodate the company's rapid growth, we expect to build a new state-of-the-art 40,000 [square foot] facility ... in Jupiter, [Fla.] to house our corporate and R&D staff."

 

A Dyadic spokesman told GenomeWeb News that a portion of the financing would be used to support the company's sequencing of the genome of the fungus Chrysosporium lucknowense, which is used to discover, screen, and overexpress genes and their proteins.

 

He said that the C. lucknowense sequence would likely be made public if the company decides to conduct the sequencing effort in conjunction with an academic institution, but no decision has been made yet.

 

Dyadic also announced that it has completed a stock-for-stock merger with CCP Worldwide, an SEC reporting company. The combined company will retain Dyadic's name, employees including senior management, and business plan. The transaction resulted in Dyadic's becoming a publicly traded company.

The Scan

Support for Moderna Booster

An FDA advisory committee supports authorizing a booster for Moderna's SARS-CoV-2 vaccine, CNN reports.

Testing at UK Lab Suspended

SARS-CoV-2 testing at a UK lab has been suspended following a number of false negative results.

J&J CSO to Step Down

The Wall Street Journal reports that Paul Stoffels will be stepping down as chief scientific officer at Johnson & Johnson by the end of the year.

Science Papers Present Proteo-Genomic Map of Human Health, Brain Tumor Target, Tool to Infer CNVs

In Science this week: gene-protein-disease map, epigenomic and transcriptomic approach highlights potential therapeutic target for gliomas, and more