Glenn Nedwin, Ph.D., MBA, Co-Founder and President of Novozymes, Inc., to Join Dyadic International as Chief Scientific Officer
22 March 2006 - 8:01AM
Business Wire
Dyadic International, Inc. (AMEX:DIL), a biotechnology company,
announced today that Glenn E. Nedwin, Ph.D., MBA, co-founder and
President since 1991 of Novozymes, Inc., has been appointed to the
positions of Chief Scientific Officer, Executive Vice President and
President of Dyadic's Biosciences Business effective tomorrow,
March 22, 2006. Dr. Nedwin also will join Dyadic's Board of
Directors. At Novozymes, Inc., a Davis, California-based research
& development subsidiary of Novozymes A/S (CSE:NZYMb.CO),
Denmark, a global leader in enzymes and microorganisms with over $1
billion in worldwide revenues, Dr. Nedwin was responsible for all
scientific, financial and 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), a
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, Connecticut. "Glenn
Nedwin is a biotechnology pioneer and visionary with more than 24
years of leadership experience and an unparalleled record of
accomplishments in both the 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 look 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 be invaluable resources for Dyadic
as we strive to achieve our growth objectives and build value for
our shareholders." As 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. Dr. Nedwin
commented, "I am excited by the opportunity to work with Dyadic's
seasoned management team, its world-renowned Scientific Advisory
Board and Board 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 its
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 in biofuels and pharmaceuticals." Dr. 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 the 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 is
currently a Co-Editor of the Industrial Biotechnology Journal.
About Dyadic Dyadic International, Inc., is engaged in the
development, manufacture and sale of biological products (proteins,
enzymes, peptides and other bio-molecules), as 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 and C1
Expression and Screening Systems for the discovery, development and
production of biological products. Cautionary Statement for
Forward-Looking Statements Certain 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 and
Exchange Commission, which are available free of charge on the
SEC's web site at http://www.sec.gov, including our Annual Report
on Form 10-KSB for the year ended December 31, 2004, 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.
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