Jupiter, Fla., July 30, 2014 – Dyadic International, Inc. (“Dyadic”) (OTCQX: DYAI), a global biotechnology company whose patented and proprietary technologies are used to develop, manufacture and sell enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries, announced today the appointment of Thomas “Tom” Dubinski as Vice President and Chief Financial Officer. Tom will be responsible for leading the financial and information technology operations for Dyadic and will succeed Michael Faby effective August 4, 2014.
Prior to joining Dyadic, Tom held senior management positions at Fortune 500 businesses with global operations. From 2012 to 2014, Tom served as a management consultant at CFO Solutions. Tom previously served as Finance Officer for Walgreens Infusion Services where he was responsible for the finance function of a division with approximately $1 billion in revenue, and he has also held other senior positions within Walgreens corporate finance from 2007 to 2011. Prior to Walgreens, Tom was Director of Finance for Novartis Medical Nutrition from 2005 to 2006 and Chief Financial Officer of Metal Technology Solutions, a private manufacturer of precision metal components, from 2002 to 2004. Tom is also an 18 year veteran of Abbott Laboratories, where he had senior finance leadership roles in the areas of commercial operations, product development and manufacturing from 1984 to 2002.
Mark Emalfarb, Chief Executive Officer said, “I strongly believe Tom possesses the skills to help us build upon our existing infrastructure to ensure financial accuracy as we embark upon becoming an SEC reporting company. He also has significant international experience and has a proven track record of success in acquisitions and expansions into new markets in the U.S., Europe and Asia. After a thorough search, with many qualified and experienced candidates, we believe Tom to be the right person to help us with our commitment to further refine and implement our growth strategies.”
Tom added, “What excited me most about the opportunity with Dyadic was the passion and vision of its founder and other members of the management team, who shared their belief for the unlimited and untapped potential for the development and manufacturing of enzymes and other proteins into several diverse applications. I look forward to working with my new team, corporate partners and highly regarded licensees in finding the best ways to monetize the C1 technology platform and to create value for shareholders.”
Tom is a CPA and received his Bachelor of Science in Accounting from the University of Illinois, Champaign-Urbana. Tom’s business address will be: 140 Intracoastal Pointe Drive, Suite 404, Jupiter, Florida 33477. Tom will receive an annual salary of $200,000 and has been granted 200,000 options to purchase Dyadic’s common stock at an exercise price per share equal to the fair market value of the shares on the date of the option grant.
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 expression system 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 FOR 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 2 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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