Dyadic International Announces The Appointment Of Jack Kaye To Its Board of Directors
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.
SOURCE Dyadic International, Inc.
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