On Friday, August 4, 2017, we added Dyadic International (DYAI) to The Tailwinds Select Portfolio at a price of $1.34 per share.
Dyadic International, Inc. is a biotechnology company focused on the development of enzymes and other proteins that enable quicker, higher quality, and less expensive manufacturing of biologic vaccines and drugs. With their proprietary C1 fungal host, Dyadic believes they can alter the manufacturing expense for many biotechnology companies. The company was founded in 1979 and is headquartered in Jupiter, Florida.
The cost of healthcare in the US has grown tremendously over the last few decades. A non-significant portion of this increase is the expense related to the production of new biologic medications. Through the development of their C1 fungal host, DYAI believes they can greatly reduce the speed of development, the cap-ex, and the cost of manufacturing of many biologic vaccines and drugs. The Company is in preliminary development agreements with two major pharmaceutical corporations at this time, with a strong pipeline of additional potential partners.
The Tailwinds Select Portfolio is a compilation of our best ideas. We seek to discover companies that are underfollowed and mispriced by the marketplace. Tailwinds is a long term investor and, while we expect significant volatility in our portfolio, we believe that our portfolio companies should significantly outperform the broader market over time.