Dyadic International said it has restructured an agreement with a long-term research partner to effectively eliminate a profit sharing and royalty rights arrangement and a debt. The Jupiter-based biotech said it entered its agreement with TNO Quality of Life (formerly known as TNO Nutrition and Food Research Institute) in August 2003. The deal related to a Dyadic (AMEX: DIL) fungal screening system. The change, the biological products firm said, also settles an outstanding debt from a Dyadic subsidiary, Dyadic Nederland, to TNO. The debt of about $377,000 became a trade payable for 161,560 shares of Dyadic common stock.
