Jupiter, Fla., January 12, 2015 – 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.
“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.
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.
Investor Relations Contact:
Dyadic International, Inc.
Chief Financial Officer