Jupiter, Fla., June 12, 2014 – 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 to the company’s Board of Directors. Mr. Tarnok will also serve on the company’s audit and compensation committees.
Mr. Tarnok has extensive experience in the pharmaceutical industry across many key areas including finance, operations and marketing. He is 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 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 Bachelors 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.
Mark Emalfarb, Chairman and Chief Executive Officer of Dyadic said, “We are excited for Michael to join the Dyadic board while we continue to execute on our plans to leverage the C1 technology platform, grow our enzyme business and become a fully reporting SEC company. Having led Keryx, a company with a market capitalization over $1 billion, Mr. Tarnok has a proven track record as a forward thinking and accomplished leader. As Dyadic further ventures into new pharmaceutical applications, Mike’s wealth of knowledge in drug development, manufacturing, marketing and finance will be invaluable.”
Mr. Tarnok added, “I am impressed with the breadth, scope and number of Dyadic’s business opportunities in the company’s pipeline. The C1 technology platform is already being applied across multiple markets to develop and manufacture enzymes and other proteins to help feed, fuel and heal the world. Dyadic’s licensees and collaborators, such as BASF and Abengoa, are global leaders in the industrial enzyme and biofuel markets. The C1 technology also has the potential to breakthrough as a disruptive manufacturing system for large molecule drugs such as vaccines, monoclonal antibodies and other therapeutic proteins. I look forward to sharing my knowledge and experience with the Dyadic team as they continue to execute on their strategic plans for growth.”
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 and (6) 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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