Research and license agreement signed by global companies
Chemical company BASF and biotechnology provider Dyadic International have entered into a non-exclusive worldwide research and license agreement.
BASF will be able to use Dyadic’s patented and proprietary C1 platform technology to develop, produce, distribute and sell industrial enzymes in certain fields for a variety of applications. It will also fund research and development at Dyadic’s research lab in The Netherlands.
In addition to this funding, BASF has agreed to pay Dyadic a $6 million (€4.6 million) upfront license fee, and certain research and commercial milestone fees, as well as royalties upon commercialisation.
‘This technology will strengthen our position in the industrial enzyme industry,’ says Carsten Sieden, Senior BASF VP of fine chemicals and biocatalysis research. ‘We expect this license agreement to result in promising long-term opportunities.’