JUPITER, Fla., April 06, 2017 (GLOBE NEWSWIRE) -- Dyadic International, Inc. (OTCQX:DYAI), a global biotechnology company focused on further improving and applying its proprietary C1 expression system to help speed up the development and production of biologic vaccines and drugs at flexible commercial scales, announced today that Stephen Warner has resigned from the Board of Directors of Dyadic (the 'Board'), effective June 1, 2017. His service on the audit, compensation, and nominating committees will also end at that time.
Mr. Warner has served on Dyadic’s board of directors since October 2004. "We appreciate Mr. Warner’s valuable contributions over the past twelve years, including his support during our litigation against our former professional service providers, his guidance in the Company’s turnaround and sale of Dyadic’s Industrial Biotechnology business to DuPont’s Industrial Biosciences," said Michael Tarnok, Dyadic’s Chairman. Mr. Tarnok further commented that, "The Board and management of Dyadic would like to thank Steve for his service to Dyadic and we wish him well in his other current and future endeavors."
"I truly enjoyed my twelve years of service on Dyadic’s board and I am very proud of what we have been able to accomplish with our limited resources. Dyadic is now well capitalized and is positioned to expand its presence in the biopharmaceutical industry. l believe in Dyadic’s future and look forward to the realization of the full potential of our C1 technology and our biopharmaceutical business. I plan on remaining a shareholder, and wish all the best to the company and its very capable management,” said Mr. Warner.
About Dyadic International, Inc.
Dyadic International, Inc. is a global biotechnology company which is developing what it believes will be a potentially significant biopharmaceutical 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 vaccines and 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 & 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 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.
