JUPITER, Fla., Jan. 12, 2015 /PRNewswire/ -- Dyadic
International, Inc. ("Dyadic") (OTCQX: DYAI), a global
biotechnology company focused on the discovery, development,
manufacture and sale of enzymes and other proteins, announced today
the appointment of Michael Tarnok as
the company's Chairman of the Board of Directors. Mr. Tarnok will
continue to serve on the company's audit and compensation
committees.
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"As a former senior executive in manufacturing and finance
at Pfizer, and experience as the Chairman of Keryx
Biopharmaceuticals, Inc., Mike is the ideal candidate with
relevant pharmaceutical and industry knowledge. Mike has already
shown to be an asset to the Company since joining the board last
year, and we expect that his insight and leadership will continue
to be of great value to Dyadic, our employees and our
shareholders. I am excited about Mike's expanded role as it
will allow me to better focus on how to best commercialize our C1
technology platform, grow enzyme revenues and accelerate the
Company's timeline to profitability. Additionally, in order to
further strengthen and enhance our board of directors we are in the
process of recruiting an additional independent director," said
Mark Emalfarb, Dyadic's President
and Chief Executive Officer.
"I am honored to be named Chairman of Dyadic's Board and am
extremely enthusiastic about the company's future. In my expanded
role, I will support Mark in continuing to provide the leadership
and stewardship of the company that he has demonstrated over the
past three decades. Dyadic has one of the strongest technology
platforms in the industry as evidenced by our world-class partners
including BASF, Abengoa, Sanofi Pasteur and others. This is a very
exciting time for us. We are developing new and innovative
products, building and expanding relationships with new and
existing partners, and continuing to assemble a world-class
management team," said Mr. Tarnok.
Mr. Tarnok has extensive experience in the pharmaceutical
industry across many key areas including finance, operations and
marketing. He is also the current Chairman and former Interim CEO
of Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX), a biotechnology
company focused on the development of therapeutics for renal
disease. Prior to joining Keryx as a Director in 2007, Mr. Tarnok
spent the majority of his career at Pfizer Inc., joining in 1989 as
Director of Finance for U.S. Manufacturing. From 2000-2007, he
served as Senior Vice President in Pfizer's U.S. Pharmaceuticals
Division. Prior to joining Pfizer, he worked primarily in financial
disciplines for ITT Rayonier, Inc., Celanese Corporation, and
Olivetti Corporation of America. Mr. Tarnok earned an MBA in
marketing from New York University and
a Bachelor of Science in accounting from St.
John's University. He also serves on the Board of the Global
Health Counsel, a Washington,
D.C.-based NGO.
About Dyadic
Dyadic International, Inc. is a global biotechnology company
that uses its patented and proprietary technologies to conduct
research, development and commercial activities for the discovery,
development, manufacture and sale of enzymes and other proteins for
the bioenergy, bio-based chemical, biopharmaceutical and industrial
enzyme industries. Dyadic utilizes an integrated technology
platform based on its patented and proprietary C1 microorganism,
which enables the development and large scale manufacture of low
cost enzymes and other proteins for diverse market opportunities.
The C1 platform technology can also be used to screen for the
discovery of novel genes. In addition to the sale of proprietary
enzyme products, Dyadic actively pursues licensing arrangements and
other commercial opportunities to leverage the value of these
technologies by providing its partners and collaborators with the
benefits of manufacturing and/or utilizing the enzymes and other
proteins which these technologies help produce. Please visit
Dyadic's website at www.dyadic.com. Dyadic trades on the OTCQX tier
of the OTC marketplace. Investors can find real-time quotes, market
information and financial reports for Dyadic on the OTC marketplace
website at www.otcmarkets.com/stock/DYAI/quote.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release are
"forward-looking statements" within the meaning of the federal
securities laws. These forward-looking statements involve risks,
uncertainties and other factors that could cause Dyadic's actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Investors are urged to
consider these factors carefully in evaluating the forward-looking
statements and are cautioned not to place undue reliance on such
forward-looking statements. Any forward-looking statements speak
only as of the date of this press release and, except as required
by law, Dyadic expressly disclaims any intent or obligation to
update or revise any forward-looking statements to reflect actual
results, any changes in expectations or any change in events.
Factors that could cause results to differ materially include, but
are not limited to: (1) general economic conditions, including the
recent conditions in the global markets; (2) our need for
additional capital; (3) Dyadic's ability to retain and attract
employees; (4) competitive pressures and reliance on key customers
and collaborators; (5) Dyadic's research and development efforts,
(6) the outcome of the current litigation by Dyadic against its
former counsel and (7) other factors discussed in Dyadic's publicly
available filings, including the risk factors included in Dyadic's
Annual Report filed with the OTC Markets Group on March 31, 2014.
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SOURCE Dyadic International, Inc.