Shots:

• Dyadic to receive $10M up front in cash & stock and ~$4M in reimbursements for pre/ clinical development costs for DYAI-100 vaccine & ~ $33M in milestone along with royalties following commercialization
• Sorrento acquire exclusive rights to use Dyadic’s C1 technology to develop and commercialize vaccines- Abs- protein therapeutics- and diagnostics for COVID-19- including DYAI-100 in the EU- America- Asian countries including Greater China and Japan. Additionally- Sorrento will be responsible for all future development cost related to the license agreement
• Dyadic’s DYAI-100 will utilize SARS-CoV-2 spike protein RBD & is produced using patented C1-cell protein production platform

Ref: Sorrento | Image: Analyze Markets