Dyadic founder regains control
After an extended struggle Mark Emalfarb, the founder of Dyadic has regained control of the firm. He was originally ousted by the board after an accounting scandal at a foreign subsidiary. By forming a coalition with other shareholders, representing a majority of the company’s shares, Emalfarb was able to dismiss the board members who had ousted him in a court-ordered annual shareholder meeting.
This story serves as a prime example of the often-ignored challenges of developing a biotechnology company. While biotechnology may involve significant scientific and regulatory challenges, it is vital to be cognizant of the challenges common to any emerging enterprise.