Dyadic signs non-binding term sheet with EnGen Bio for potential outlicense of C1 platform technology

Dyadic International, Inc. (Pink Sheets: DYAI) ("Dyadic"), a leading biotechnology company focused on the development and manufacture of bioproducts based on its cutting-edge C1 technology to address the needs of multi-billion dollar markets for biofuels, biotherapeutics and industrial enzymes, announced today that it has signed a non-binding term sheet with EnGen Bio, Inc. ("EnGen Bio") for a potential outlicense, on an exclusive worldwide basis, of Dyadic's C1 platform technology for applications in biopharmaceutical drug development. Under the terms of the proposed licensing transaction outlined in the term sheet, Dyadic is eligible to receive a substantial equity stake in EnGen Bio which will be led by Mark R. Alfenito, Ph.D. The deal is consistent with Dyadic's stated goal of leveraging and monetizing its technology platform through development and commercialization partnerships. The closing of the proposed licensing transaction is subject to completion of due diligence, negotiation of mutually satisfactory legal agreements and respective board approvals.

Dyadic's President and Chief Executive Officer, Mark Emalfarb, stated, "We are very pleased to enter into this term sheet and will work diligently toward finalizing a license agreement with EnGen Bio. Consistent with Dyadic's long stated goal of leveraging its technologies into the biopharmaceutical market, our proposed license to EnGen Bio represents a tremendous opportunity for Dyadic to apply its C1 technology to facilitate the development of biotherapeutics on a larger, faster and more economical scale. Dr. Alfenito's unique combination of scientific and business skills make him an ideal partner to lead the development and monetization of Dyadic's C1 technology in the biopharmaceutical arena. In fact, we are already pursuing and evaluating various partnerships and financing opportunities for EnGen Bio."

President and CEO of EnGen Bio, Mark Alfenito, stated, "Dyadic could not have set the stage better for EnGen Bio's success, having removed nearly all of the scientific risk through the great work they have done over the years to exploit C1 for industrial enzymes and biofuels. I look forward to building a team to expeditiously complete the re-engineering of C1 for biopharmaceuticals, so that we can revolutionize the development and manufacture of these expensive drugs."

Dr. Richard Lerner, President of The Scripps Research Institute, one of the country's largest, private, non-profit research organizations, and Chairman of Dyadic's Scientific Advisory Board, stated, "I look forward to working with Dyadic and EnGen Bio to unlock the value of Dyadic's C1 technology for use in the biopharmaceutical industry. Mark Alfenito is an experienced scientist and business professional who has the necessary expertise, relationships and track record to make EnGen Bio a commercial success."