Item 1.01. Entry into a Material Definitive Agreement.

On May 28, 2021, Dyadic International (USA), Inc., a subsidiary of Dyadic International, Inc., (hereinafter collectively referred to as "Dyadic" or the "Company") entered into an amendment to its Master Services Agreement (the "Amended MSA") with CR2O B.V. ("CR2O"), which was previously signed on March 18, 2021. The Amended MSA restated the Company's engagement with CR2O to oversee and perform certain pre-clinical and clinical trial services related to the Company's C1 produced SARS-CoV-2 receptor binding domain (RBD) of the SARS-CoV-2 spike protein COVID-19 vaccine candidate ("DYAI-100") which the Company is moving towards an anticipated Phase 1 clinical trial. The Amended MSA also included Work Order Number 02 between the Company and CR2O, also dated May 28, 2021, where CR2O will continue oversee and perform additional pre-clinical trial services relating to the Company's COVID-19 DYAI-100. The Amended MSA is effective retroactively on March 18, 2021 (the Effective Date") and the term of the MSA remains for a period of five (5) years from the Effective Date.

The foregoing description of the MSA and the Work Order is qualified in its entirety by reference to the complete terms and conditions of the MSA and the Work Order, which are filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.




Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following exhibit is being furnished herein:
      Exhibit
      Number          Description

       10.1             Master Services Agreement and Work Order, between Dyadic
                      International (USA), Inc. and CR2O B.V., Dated May 28, 2021.
                      Specific items in this exhibit have been redacted, as market
                      by three asterisks[***].
        104           Cover page Interactive Data File (embedded within the Inline
                      XBRL document)

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