JUPITER, Fla., March 18, 2015 /PRNewswire/ -- Dyadic
International, Inc. ("Dyadic") (OTCQX: DYAI) today announced
the appointment of Jack Kaye to the
Board of Directors, effective April
1, 2015. Mr. Kaye will serve on the audit and
compensation committees. With the addition of Mr. Kaye, there will
be seven members on the Dyadic Board.
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Mr. Kaye is a seasoned financial executive with over forty years
of diversified experience. He is currently the Chairman of the
Audit Committee of Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX)
where he has served since 2006. He previously served on the board
of directors of Tongli Pharmaceuticals (USA), Inc., a China-based pharmaceutical company and Balboa
Biosciences, Inc., a privately held biotech company. In addition,
he was selected to participate in the Astellas, Inc./OSI. and Roche
Pharmaceuticals, Inc./Illumina hostile takeover transactions, and
served as a member of the Roche/Illumina dissident board
slate. Mr. Kaye began his career at Deloitte LLP, an
international accounting, tax and consulting firm, in 1970, and was
a partner in the firm from 1978 until May
2006. At Deloitte, he was responsible for serving a diverse
client base of public and private, global and domestic, companies
in a variety of industries. Mr. Kaye has extensive experience
consulting with clients on accounting and reporting matters,
private and public debt financings, SEC rules and regulations and
corporate governance/Sarbanes-Oxley issues. In addition, he served
as Deloitte's Tri-State liaison with the banking and finance
community and assisted clients with numerous merger and acquisition
transactions. Prior to retiring, Mr. Kaye served as
Partner-in-Charge of Deloitte's Tri-State
Core Client practice, a position he held for more than
twenty years. Mr. Kaye has a Bachelor of Science from
Baruch College and is a Certified
Public Accountant.
Chairman of the Board, Michael
Tarnok, stated, "I worked with Jack for nearly a decade on
the Keryx Board. His deep experience in corporate strategy,
accounting, corporate governance and risk management make him an
ideal addition to Dyadic's team as we work to further commercialize
our C1 technology platform."
Mr. Kaye added, "Over the last several months, I have
learned a lot about Dyadic's world class technology and management
team. With the unique capability to cost effectively turn DNA
into products, the C1 Expression System is poised to be a
game-changing technology in many industries. I look forward
to playing a key role in helping Dyadic realize its full potential
while preparing to become a full SEC reporting company and
up-listing to a major stock exchange."
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) Dyadic's ability to
retain and attract employees; (3) competitive pressures and
reliance on key customers and collaborators; (4) Dyadic's research
and development efforts, (5) the outcome of the current litigation
by Dyadic against its former counsel, (6) Dyadic's ability to
obtain additional debt or equity financing sources and (7) other
factors discussed in Dyadic's publicly available filings, including
the risk factors included in Dyadic's Form 10 Amendment No. 2 filed
with the Securities and Exchange Commission and the OTC Markets
Group on October 9, 2014.
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SOURCE Dyadic International, Inc.