Dyadic Stock Tanks Amid Reports of Partnership Termination With Sanofi Pasteur
Dyadic International, Inc. (“Dyadic”) (OTC: DYAI) announced the termination of its Proof of Concept, Exclusive Option & Technology Transfer Agreement, dated, as of March 30, 2011 with Sanofi Pasteur (“Sanofi”).
On August 5, 2016, the Company received a 60-day notice from Sanofi, indicating that they have decided to terminate the Proof of Concept, Exclusive Option & Technology Transfer Agreement entered into among Dyadic Nederland B.V, Engen Bio Inc. and Sanofi Pasteur S.A. on March 30, 2011 (the “Agreement”).
On August 5, 2016, the Company received a 60-day notice from Sanofi, indicating that they have decided to terminate the Proof of Concept, Exclusive Option & Technology Transfer Agreement entered into among Dyadic Nederland B.V, Engen Bio Inc. and Sanofi Pasteur S.A. on March 30, 2011 (the “Agreement”).