Fresh data supports the potential of the company’s proprietary C1 platform – a fungal expression technology for producing enzymes – which helps bring biologic vaccines, therapeutic enzymes, proteins, biosimilars and drugs to market faster and at a lower cost.
Indeed, the Noble team is particularly impressed by new evidence provided by Dyadic’s research partner VTT Technical Research Centre of Finland (VTT), which shows the building block for hyman glycan is produced by the C1 platform. “We think this is a key milestone for the company to validate the C1 platform in bioproduction,” wrote Noble analysts in a note.
“Glycoengineering is crucial in drug development, as glycans have marked effects on stability, activity, antigenicity and pharmacodynamics. Therefore, glycoengineering to produce human-like proteins is one of the biggest milestones for Dyadic,” the Noble team added.
Currently, over half of biologics, which are expected to see sales of over $300 billion by 2022, are glycoproteins, according to Noble’s report.
“We see upside as the company validates its C1 expression system expanding to multiple biologics markets,” the Noble team concluded. “We are reiterating our Outperform rating on the stock.”
Dyadic has patented its proprietary filamentous fungus, Myceliophthora thermophila, and the associated molecular tools used to engineer the C1 cells to express and manufacture large volumes of low-cost biologic products such as enzymes and proteins. The C1 fungus is a living cell that has been bioengineered by Dyadic scientists for more than two decades.