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.