Dyadic International sells equity interest in Alphazyme for $1.27M

Dyadic International announced that it received approximately $1.27M in connection with the sale of its equity interest in Alphazyme. Dyadic received its equity as part of the consideration for the grant of a non-exclusive license to certain of Dyadic’s technology. Additionally, under that arrangement Dyadic has the right to receive milestone and royalty payments based on sales of C1 expressed products by Alphazyme. Dyadic also has the potential to receive additional payments based on the future sales of Alphazyme’s existing products.