Full Press Release Details
Nedwin, Ph.D., MBA, Co-Founder and President of Novozymes, Inc., to Join Dyadic
International as Chief Scientific Officer and President of its Biosciences
Fla. - March 21, 2006 - (via Business Wire) - Dyadic
International, Inc. (AMEX: DIL),
biotechnology company, announced today that Glenn E. Nedwin, Ph.D., MBA,
co-founder and President since 1991 of Novozymes, Inc., has been appointed
the positions of Chief Scientific Officer, Executive Vice President and
President of Dyadic's Biosciences Business effective tomrrow, March 22,
2006. Dr. Nedwin also will join Dyadic's Board of Directors.
Novozymes, Inc., a Davis, California-based research & development subsidiary
A/S (Copenhagen Stock Exchange: NZYMb.CO),
Denmark, a global leader in enzymes and microorganisms with over $1 billion
worldwide revenues, Dr. Nedwin was responsible for all scientific, financial
administrative activities, and was a member of Novozymes A/S global R&D
management team and its biosolutions strategy group, and was involved in
technology/product licensing. From 1989 to 1991, Dr. Nedwin served as Vice
President of Corporate Development, Xoma
Corporation (NASDAQ: XOMA),
biotechnology company based in Berkeley, California. Earlier, he was Vice
President, Business Development and co-founder of Ideon Corporation, Redwood
City, California, and Senior Research Scientist and co-founder of Molecular
Therapeutic, Inc. (now Bayer Pharmaceuticals Corporation), West Haven,
Nedwin is a biotechnology pioneer and visionary with more than 24 years of
leadership experience and an unparalleled record of accomplishments in both
scientific and business aspects of our industry," said Mark Emalfarb, President
and CEO of Dyadic. "We are thrilled that he has agreed to join Dyadic, and
forward to his contributions to the development and commercialization of our
proprietary bio-based products. Glenn's success in identifying new product
opportunities and developing and utilizing microbial host production organisms
for the large scale production of enzymes and other bio-based molecules will
invaluable resources for Dyadic as we strive to achieve our growth objectives
and build value for our shareholders."
Dyadic's Chief Scientific Officer, Dr. Nedwin will direct scientific and
development activities and oversee the planned expansion of the company's
R&D efforts. In his capacity as President of the Biosciences Business, Dr.
Nedwin will also be responsible for strategic business development, partnering,
alliances and collaborative research relationships.
Nedwin commented, "I am excited by the opportunity to work with Dyadic's
seasoned management team, its world-renowned Scientific Advisory Board and
of Directors to maximize the potential of the company's rich technology platform
and established large-scale manufacturing capabilities. Dyadic has quickly
established itself as an innovative manufacturer of industrial enzymes with
proprietary C1 fungal strain for highly efficient protein production, a critical
factor for commercialization of industrial products. With the C1 genome sequence
information now in hand, Dyadic's technology is well suited to identify and
produce new enzymes, polymers and chemicals from carbohydrate sources. C1 can
potentially be used to produce enzymes
involved in the production of cellulosic ethanol and other chemicals
from renewable feedstocks. Dyadic's C1 host is also well-suited for low-cost
production of monoclonal antibodies and other therapeutic proteins. I look
forward to the challenge of expanding Dyadic's position in its existing
industrial markets as well as establishing new, higher value opportunities
biofuels and pharmaceuticals."
Nedwin, 50, received his Bachelor of Science degree in Biochemistry from the
State University of New York at Buffalo and his Ph.D. in Biochemistry from
University of California, Riverside. Dr. Nedwin did his postdoctoral fellowship
in molecular biology at Genentech, Inc. Dr. Nedwin also holds an M.S. in the
Management of Technology from the Massachusetts Institute of Technology and
currently a Co-Editor of the Industrial
International, Inc., is engaged in the development, manufacture and sale of
biological products (proteins, enzymes, peptides and other bio-molecules),
well as the licensing of its enabling proprietary technology to business
collaborators for the discovery, development and manufacture of biological
products from genes. Dyadic markets its products and services for applications
in the textile, chemical, agricultural, pulp & paper, pharmaceutical,
biotechnology and other industries, using its proprietary C1 Host Technology
C1 Expression and Screening Systems for the discovery, development and
production of biological products.
Statement for Forward-Looking Statements
statements contained in this press release are "forward-looking statements."
These forward-looking statements involve risks and uncertainties that could
cause our actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. For a discussion of these risks and
uncertainties, please see our filings from time to time with the Securities
Exchange Commission, which are available free of charge on the SEC's web site
including our Annual Report on Form 10-KSB for the year ended December 31,
and our Quarterly Report on Form 10-QSB for the quarter ended September 30,
2005. Except as required by law, we expressly disclaim any intent or obligation
to update any forward-looking statements.
(Sasha) Bondar, 561-743-8333