The blog is trying to catch up to several big news announced earlier this month and one of them is DuPont Industrial Biosciences’ purchase of Dyadic International’s enzyme and technology assets including its C1 platform, a fungal expression technology for producing enzymes.
DuPont has become the second largest global enzymes producer next to Novozymes after its acquisition of Genencor in 2011. The $4bn enzymes market has especially benefitted the past few years from the growth of the ethanol industry. DuPont said in the press release that Dyadic has conducted extensive enzyme research and developed business relationships in the area of biofuels which will further support DuPont’s leadership in the cellulosic space. Detergents, however, remain the largest end market for enzymes.
Under the terms of the agreement, DuPont will pay $75 million to acquire Dyadic’s enzyme technologies and offerings which include the C1 technology as well as liquid and dry enzyme products used in a broad range of industries. Dyadic’s research and development lab located in the Netherlands will become part of DuPont Industrial Biosciences. The proposed transaction is subject to approval by Dyadic shareholders, and would be expected to close toward the end of 2015, subject to customary closing conditions.