Dyadic International, Inc. Appoints Arindam Bose, Ph.D., Distinguished Life Sciences Executive, to B
Tuesday, August 16, 2016
Dyadic International, Inc. Appoints Arindam Bose, Ph.D.,
Distinguished Life Sciences Executive, to Board of Directors
JUPITER, FL – August 16, 2016 (GLOBE NEWSWIRE) - Dyadic International, Inc. ("Dyadic") (OTCQX: DYAI), a global biotechnology company focused on the development and large scale manufacture of low cost, better performing biologic vaccines and drugs at flexible commercial scales, today announced the appointment of Arindam Bose, Ph.D., to its Board of Directors, effective August 15, 2016.
Dr. Bose recently retired from Pfizer Research & Development after serving for 34 years, most recently in senior leadership roles in process development and manufacturing of biologics. Specifically, for the last six years, Dr. Bose served as Vice President of Bio Therapeutics Pharmaceutical Sciences External Affairs and Biosimilars Strategy. In that role, Dr. Bose led the technical team which was responsible for researching, developing and executing Pfizer's strategy for entry into the emerging field of biosimilars. That effort resulted in the successful submission of 5 Investigational New Drug Applications (INDs) to the FDA: all 5 of which have already progressed to Phase 3 testing. Dr. Bose was also a member of Pfizer's Bioprocess Leadership Team (BPLT) – Pfizer's most senior oversight team for biotechnology product technical development and manufacturing.
"We are very excited that Dr. Bose has joined Dyadic's board of directors," said Mark Emalfarb, Dyadic's CEO. "His extensive background in biologics products, process development and commercial experiences make him an ideal scientific and business advisor to provide guidance and insight to Dyadic's biologics business strategy and research initiatives." Mr. Emalfarb continued, "Dr. Bose has an extensive global network of key business and research relationships that we expect will help us accelerate the introduction and adoption of our C1 technology in the biotech and pharmaceutical industry for use in the development and manufacture of biologic vaccines and drugs."
Dr. Bose commented, "I am truly excited to join the Dyadic Board of Directors. I view the C1 technology platform as a leap in technology that has the potential to change the way in which both animal health and human biotech and pharmaceutical companies bring their biologic vaccines and drugs to market faster, in greater volumes, at lower cost, and with newer beneficial properties."
Prior positions held by Dr. Bose at Pfizer included: Executive Director, Human Biologics Strategy & Sourcing (2003-2009), Director, Human Biologicals (2000-2003), Senior Technical Advisor, Human Biologicals (1997-2000), and Manager, Bioprocess Development (1991-1997).
Dr. Bose began his career as a research scientist at the Battelle Memorial Institute where he worked on biochemical process technology. He received a Ph.D. in chemical engineering from Purdue University and a M.S. in chemical engineering from the University of Michigan, Ann Arbor. Dr. Bose was elected a Fellow of the American Chemical Society, American Institute of Chemical Engineers and American Institute for Medical and Biological Engineering in recognition of his outstanding professional accomplishments.
About Dyadic International, Inc.
Dyadic International, Inc. is a global biotechnology company which is developing what it believes will be a potentially significant protein production system based on the fungus Myceliopthora thermophila, nicknamed C1. The C1 microorganism, which enables the development and large scale manufacture of low cost proteins, has the potential to be further developed into a safe and efficient expression system that may help speed up the development, production and performance of biologic drugs at flexible commercial scales. Dyadic is using the C1 technology and other technologies to conduct research, development and commercial activities for the development and manufacturing of human and animal vaccines, monoclonal antibodies, biosimilars and/or biobetters, and other therapeutic proteins. Dyadic pursues research and development collaborations, licensing arrangements and other commercial opportunities with its partners and collaborators to leverage the value and benefits of these technologies in developing and manufacturing biopharmaceuticals which these technologies help produce. In particular, as the aging population grows in developed and undeveloped countries, Dyadic believes the C1 technology may help bring biologic drugs to market faster, in greater volumes, at lower cost, and with new properties to drug developers and manufacturers and, hopefully, improve access and cost to patients and the healthcare system, but most importantly saving lives. Please visit Dyadic's website at www.dyadic.com for additional information, including details regarding Dyadic's plans for its biopharmaceutical business.
Dyadic trades on the OTCQX tier of the OTC marketplace. Investors can find real-time quotes, market information and financial reports for Dyadic, as well as additional information related to its professional liability lawsuit, in the company's annual and quarterly reports which are filed with the OTC markets. Please visit the OTC markets website at www.otcmarkets.com/stock/DYAI/quote .
Safe Harbor 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, political and market conditions (2) our ability to carry out and implement our biopharmaceutical research and business plans and strategic initiatives (3) Dyadic's ability to retain and attract employees, consultants, directors, advisors and contract research organizations (4) our ability to implement and successfully carry out Dyadic's and third parties research and development efforts (5) our ability to obtain new license and research agreements (6) competitive pressures and reliance on key customers and collaborators (7) the outcome of the current litigation by Dyadic against its former counsel and (8) other factors discussed in Dyadic's publicly available filings, including information set forth under the caption "Risk Factors" in our December 31, 2015 Annual Report filed with OTC Markets on March 29, 2016. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us.
Dyadic International, Inc.
Thomas L. Dubinski
Chief Financial Officer