India Funds Affordable COVID-19 Vaccine Candidate Using Dyadic's Platform

• Dyadic International Inc's (NASDAQ: DYAI) licensee, Epygen Biotech PVD, LTD., has received funding from the Government of India to advance an affordable COVID-19 vaccine candidate through Phase 1 and Phase 2 trials.

• Epygen's COVID-19 vaccine utilizes Dyadic's C1 protein production platform. Epygen Biotech is an Indian Biopharmaceutical company engaged in research and manufacturing therapeutic proteins for critical diseases and novel vaccines.

• Epygen Biotech aims to initially produce 100 million doses per year, at an anticipated price point of approximately $2 per dose, of the potential vaccine, which could be used as the primary and booster against variants.

• Epygen is further planning to raise approximately $26 million for Phase 3.

• Price Action: DYAI shares are down 2.59% at $2.44 during the market session on the last check Wednesday.

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