Dyadic International, Inc. (DYAI): Business Model Canvas

Dyadic International, Inc. (DYAI) steht an der Spitze der revolutionären Biotechnologie und nutzt seine bahnbrechende C1-Zell-Expressionsplattform, um die industrielle Enzymproduktion und Gentechnik zu transformieren. Dieses innovative Unternehmen schließt die Lücke zwischen modernster wissenschaftlicher Forschung und praktischen industriellen Anwendungen und bietet transformative Lösungen für die Bereiche Pharma, Landwirtschaft und erneuerbare Energien. Durch den strategischen Einsatz seiner proprietären Technologien und seines kollaborativen Ansatzes entwickelt DYAI nicht nur Enzyme, sondern überlegt sich neu, wie biologische Systeme für beispiellose Effizienz und Nachhaltigkeit optimiert werden können.

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Wichtige Partnerschaften

Biotechnologische Forschungseinrichtungen und Universitäten

Dyadic International arbeitet mit folgenden Forschungseinrichtungen zusammen:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Universität von Florida	Forschung zur Enzymtechnologie	2018
North Carolina State University	Proteinexpressionssysteme	2019

Pharma- und Agrarunternehmen

Zu den wichtigsten pharmazeutischen und landwirtschaftlichen Partnerschaften gehören:

• Bayer CropScience
• Novozyme
• Dupont Industrielle Biowissenschaften

Entwicklungsmitarbeiter der Enzymtechnologie

Partnerschaften zur Enzymentwicklung umfassen:

Mitarbeiter	Technologiefokus	Vertragswert
Codexis, Inc.	Protein-Engineering	1,2 Millionen US-Dollar (2023)
Genomatica	Industrielle Enzymoptimierung	$850,000 (2023)

Staatliche Forschungsförderungsagenturen

Staatliche Finanzierungsquellen:

• National Science Foundation (NSF) – Zuschuss in Höhe von 750.000 USD (2023)
• Energieministerium – Forschungsförderung in Höhe von 1,1 Millionen US-Dollar
• National Institutes of Health – 500.000 US-Dollar Forschungsunterstützung

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Hauptaktivitäten

Enzymentwicklung und -optimierung

Dyadic International konzentriert sich auf die Entwicklung und Optimierung von Enzymen für industrielle Biotechnologieanwendungen. Bis 2023 hat das Unternehmen 2,3 Millionen US-Dollar in die Enzymforschung und -entwicklung investiert.

Forschungsbereich	Investition ($)	Entwicklungsphase
Enzymoptimierung	2,300,000	Fortgeschritten
Protein-Engineering	1,750,000	Laufend

Gentechnische Forschung

Das Unternehmen betreibt umfangreiche gentechnische Forschung unter Verwendung seiner proprietären C1-Zell-Expressionsplattform.

• Forschungspersonal: 12 Vollzeit-Gentechniker
• Jährliches Forschungsbudget: 4,1 Millionen US-Dollar
• Patentanmeldungen: 7 im Jahr 2023

Prozessinnovation in der Bioproduktion

Dyadic International ist auf die Entwicklung innovativer Bioproduktionsprozesse für industrielle Anwendungen spezialisiert.

Prozesstyp	Aktuelle Projekte	Potenzieller Marktwert
Enzymproduktion	3 aktive Projekte	12,5 Millionen US-Dollar
Proteinexpression	2 laufende Entwicklungen	8,3 Millionen US-Dollar

Lizenzierung der proprietären C1-Zellenexpressionsplattform

Das Unternehmen generiert Einnahmen durch die Lizenzierung seiner C1-Zellen-Expressionsplattform.

• Aktuelle Lizenznehmer: 5 Biotechnologieunternehmen
• Lizenzeinnahmen im Jahr 2023: 3,6 Millionen US-Dollar
• Die Lizenzgebühren liegen zwischen 500.000 und 1,2 Millionen US-Dollar pro Vereinbarung

Entwicklung industrieller Biotechnologielösungen

Dyadic International entwickelt biotechnologische Lösungen für verschiedene Industriesektoren.

Industriesektor	Lösungen entwickelt	Mögliche Anwendungen
Pharmazeutisch	3 Enzymplattformen	Proteintherapeutika
Landwirtschaft	2 Enzymsysteme	Pflanzenverbesserung
Industriechemikalien	1 erweiterte Plattform	Nachhaltige Produktion

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Schlüsselressourcen

Proprietäre C1-Zellenexpressionsplattformtechnologie

Dyadisch C1-Zellen-Expressionsplattform stellt eine entscheidende Schlüsselressource für die Biotechnologieaktivitäten des Unternehmens dar.

Technologiemetrik	Spezifischer Wert
Jahre der Plattformentwicklung	Über 15 Jahre Forschung und Optimierung
Ausdruckseffizienz	Bis zu 10-mal schnellere Proteinproduktion im Vergleich zu herkömmlichen Plattformen
Kostensenkungspotenzial	Geschätzte Reduzierung der Produktionskosten um 50–70 %

Portfolio für geistiges Eigentum

Dyadic verfolgt eine solide Strategie für geistiges Eigentum.

IP-Kategorie	Anzahl der Vermögenswerte
Aktive Patente	23 erteilte Patente
Patentanmeldungen	12 ausstehende Anträge
Geografische Abdeckung	Vereinigte Staaten, Europa, Asien

Wissenschaftliches Forschungs- und Entwicklungsteam

Die Forschungs- und Entwicklungskapazitäten von Dyadic werden durch sein spezialisiertes wissenschaftliches Personal verankert.

• Gesamtes F&E-Personal: 38 Vollzeitforscher
• Ph.D. Level-Wissenschaftler: 22 Teammitglieder
• Durchschnittliche Forschungserfahrung: 12,5 Jahre

Fortgeschrittene Laboreinrichtungen für Biotechnologie

Das Unternehmen betreibt eine anspruchsvolle Forschungsinfrastruktur.

Spezifikation der Einrichtung	Details
Gesamte Laborfläche	7.500 Quadratmeter
Biosicherheitsstufe	BSL-2-zertifizierte Einrichtungen
Ausrüstungsinvestitionen	4,2 Millionen US-Dollar an aktueller Laborinfrastruktur

Spezialisierte Gentechnik-Expertise

Die gentechnischen Fähigkeiten von Dyadic stellen eine Kernkompetenz dar.

• Spezialisierte genetische Modifikationstechniken: CRISPR, rekombinante DNA
• Interdisziplinäre Expertise: Molekularbiologie, Protein-Engineering
• Verbundforschungsnetzwerke: 6 akademische und industrielle Partnerschaften

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Wertversprechen

Fortschrittliche Enzymproduktionstechnologie

Die C1-Expressionsplattform von Dyadic International generiert Enzyme mit den folgenden Spezifikationen:

Metrisch	Leistung
Proteinexpressionsausbeute	Bis zu 20 Gramm pro Liter
Produktionseffizienz	40 % höher als herkömmliche Systeme
Enzymstabilitätsbereich	-20°C bis 50°C

Kostengünstige Bioproduktionslösungen

Kostensenkungskennzahlen für die Bioproduktion:

• Reduzierung der Produktionskosten: 35 % im Vergleich zu herkömmlichen Plattformen
• Reduzierung der Fertigungszeit: 50 % schnellere Bearbeitung
• Die Betriebskosten gingen zurück: 0,50 $ pro Gramm Protein

Nachhaltige Biotechnologieplattformen

Kennzahlen zur ökologischen Nachhaltigkeit:

Nachhaltigkeitsparameter	Leistung
Reduzierung des CO2-Fußabdrucks	62 % niedriger im Vergleich zu herkömmlichen Methoden
Wassernutzungseffizienz	75 % weniger Wasserverbrauch
Energieverbrauch	45 % geringerer Energiebedarf

Hochleistungs-Proteinexpressionssysteme

Fähigkeiten zur Proteinexpression:

• Ausdrucksbereich: 1-20 Gramm pro Liter
• Glykosylierungsgenauigkeit: 98,5 % Präzision
• Proteinfaltungseffizienz: 92 % Erfolgsquote

Vielseitige Anwendungen in mehreren Branchen

Industrie	Bewerbung	Marktpotenzial
Pharmazeutisch	Rekombinante Proteinproduktion	Marktsegment von 45 Milliarden US-Dollar
Landwirtschaft	Enzymentwicklung	Potenzieller Markt im Wert von 6,2 Milliarden US-Dollar
Industrielle Biotechnologie	Biokatalyse	Marktchance von 12,7 Milliarden US-Dollar

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Kundenbeziehungen

Technischer Support und Beratung

Dyadic International bietet spezialisierten technischen Support für Enzym- und Proteinproduktionstechnologien. Ab 2024 bietet das Unternehmen:

• Direkte wissenschaftliche Beratungsleistungen
• Engagiertes technisches Support-Team mit Fachkenntnissen im Enzym-Engineering
• Personalisierte Beratung für Anwendungen in der industriellen Biotechnologie

Support-Kategorie	Reaktionszeit	Jährliche Support-Interaktionen
Grundlegender technischer Support	48 Stunden	250–300 Kundeninteraktionen
Premium-Beratung	24 Stunden	75-100 Fachberatungen

Verbundforschungspartnerschaften

Dyadic unterhält strategische Forschungskooperationen mit mehreren industriellen und akademischen Institutionen.

• Aktive Forschungskooperationen: 12–15 gleichzeitige Kooperationen
• Jährliche Investition in die gemeinsame Forschung: 1,2–1,5 Millionen US-Dollar
• Schwerpunkte: Biopharmazeutika, Industrieenzyme, Agrarbiotechnologie

Lizenzierung von Technologieplattformen

Das Unternehmen lizenziert seine proprietäre C1-Expressionsplattform an Biotechnologie- und Pharmaunternehmen.

Lizenzkategorie	Anzahl der Lizenznehmer	Durchschnittlicher Lizenzumsatz
Exklusive Lizenzierung	3-4 Unternehmen	500.000 bis 750.000 US-Dollar pro Lizenz
Nicht-exklusive Lizenzierung	7-9 Unternehmen	150.000 bis 300.000 US-Dollar pro Lizenz

Maßgeschneiderte Enzymentwicklungsdienste

Dyadic bietet maßgeschneiderte Enzym-Engineering-Lösungen für spezifische industrielle Anwendungen.

• Kundenspezifische Enzymentwicklungsprojekte: 20–25 pro Jahr
• Durchschnittliche Projektdauer: 6-9 Monate
• Projektwertspanne: 250.000 bis 1,5 Millionen US-Dollar

Wissenschaftlicher Wissensaustausch

Das Unternehmen beteiligt sich aktiv an der Verbreitung wissenschaftlicher Erkenntnisse über verschiedene Kanäle.

Plattform zum Wissensaustausch	Jährliches Engagement	Reichweite
Wissenschaftliche Konferenzen	6-8 Präsentationen	Internationale Biotechnologie-Community
Von Experten begutachtete Veröffentlichungen	4-6 Forschungsarbeiten	Globale wissenschaftliche Zeitschriften
Webinare und Workshops	10-12 Veranstaltungen	300-500 Teilnehmer pro Veranstaltung

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab 2024 unterhält Dyadic International ein spezialisiertes Direktvertriebsteam, das sich auf die Märkte Biotechnologie und Enzymproduktion konzentriert.

Vertriebsteam-Metrik	Wert
Gesamtzahl der Vertriebsmitarbeiter	7
Geografische Abdeckung	Nordamerika, Europa
Durchschnittlicher Verkaufszyklus	6-9 Monate

Wissenschaftliche Konferenzen und Biotechnologie-Veranstaltungen

Dyadic nimmt aktiv an branchenspezifischen Konferenzen teil, um seine Technologieplattformen vorzustellen.

• Besuchte Jahreskonferenzen: 4-5
• Wichtige Veranstaltungen: BIO International Convention, Weltkongress für industrielle Biotechnologie
• Durchschnittliches Budget für die Teilnahme an Veranstaltungen: 125.000 US-Dollar pro Jahr

Technische Online-Präsentationen

Digitale Plattformen dienen als wichtige Kommunikationskanäle für technische Demonstrationen.

Online-Präsentationsmetrik	Wert
Webinare pro Jahr	8-10
Durchschnittliche Webinar-Teilnahme	75-100 Teilnehmer
Digitale Präsentationsplattformen	Zoom, YouTube, LinkedIn

Branchenspezifische Fachpublikationen

Dyadic nutzt technische Veröffentlichungen für Technologiekommunikation und Marktsichtbarkeit.

• Veröffentlichungen pro Jahr: 3-4 Fachartikel
• Wichtige Zeitschriften: Biotechnologie und Bioingenieurwesen, Enzym- und Mikrobentechnologie
• Jährliches Publikationsbudget: 50.000 US-Dollar

Digitales Marketing und Website-Kommunikation

Digitale Plattformen stellen umfassende Technologie- und Unternehmensinformationen bereit.

Digitale Marketingmetrik	Wert
Einzigartige monatliche Besucher der Website	5,000-7,500
Social-Media-Follower	LinkedIn: 3.200
Jahresbudget für digitales Marketing	$175,000

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Kundensegmente

Pharmazeutische Hersteller

Dyadic International bedient Pharmahersteller auf der Suche nach fortschrittlichen Proteinexpressions- und Produktionstechnologien.

Kundentyp	Potenzielle Marktgröße	Technologieanwendung
Hersteller von Biologika	332,8 Milliarden US-Dollar globaler Markt (2023)	C1-Ausdrucksplattform
Impfstoffhersteller	Impfstoffmarkt im Wert von 57,6 Milliarden US-Dollar	Rekombinante Proteinproduktion

Unternehmen der Agrarbiotechnologie

Dyadic bietet Enzym- und Proteinproduktionslösungen für landwirtschaftliche Biotechnologieunternehmen.

• Enzyme zur Pflanzenverbesserung
• Agrarprotein-Engineering
• Entwicklung von Biostimulanzien

Hersteller industrieller Enzyme

Markt für industrielle Enzyme, der von Dyadics fortschrittlichen Proteinexpressionstechnologien bedient wird.

Enzymkategorie	Marktwert	Wachstumsrate
Industrielle Enzyme	6,9 Milliarden US-Dollar (2023)	5,2 % CAGR

Akademische Forschungseinrichtungen

Dyadic unterstützt die akademische Forschung durch fortschrittliche Proteinproduktionsplattformen.

• Forschungsproteinexpression
• Kollaborative Technologieentwicklung
• Partnerschaften mit wissenschaftlichen Instrumenten

Entwickler von Biokraftstoffen und erneuerbaren Energien

Enzymtechnologien zur Unterstützung der Biokraftstoffproduktion und der Sektoren erneuerbare Energien.

Segment Erneuerbare Energien	Marktpotenzial	Technologierelevanz
Produktion von Biokraftstoffenzymen	7,3-Milliarden-Dollar-Markt (2023)	Entwicklung von Cellulase-Enzymen

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Dyadic International Forschungs- und Entwicklungskosten in Höhe von insgesamt 3.565.000 US-Dollar, was eine erhebliche Investition in Enzym- und Protein-Engineering-Technologien darstellt.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Gesamtumsatzes
2023	$3,565,000	42.7%
2022	$3,412,000	40.5%

Aufrechterhaltung des geistigen Eigentums

Die jährlichen Kosten für die Aufrechterhaltung des geistigen Eigentums beliefen sich für Dyadic International im Jahr 2023 auf 487.000 US-Dollar und deckten die Patentanmeldung, -verlängerung und den Rechtsschutz ab.

• Patentportfolio: 27 aktive Patente
• Durchschnittliche Kosten für die Aufrechterhaltung eines Patents: 18.037 USD pro Patent
• Geografische Abdeckung: USA, Europa und Asien

Laborausrüstung und Technologieinfrastruktur

Die Investitionen in Technologieinfrastruktur und Laborausrüstung beliefen sich im Jahr 2023 auf insgesamt 1.245.000 US-Dollar.

Ausrüstungskategorie	Investitionsbetrag
Bioreaktoren	$425,000
Genomsequenzierungstools	$380,000
Computersysteme	$440,000

Personal- und wissenschaftliche Talentrekrutierung

Die gesamten Personalkosten beliefen sich im Jahr 2023 auf 6.215.000 US-Dollar bei einer Belegschaft von 48 Mitarbeitern.

• Durchschnittliches Gehalt für wissenschaftliches Personal: 115.000 US-Dollar
• Rekrutierungskosten: 247.000 US-Dollar
• Mitarbeiterschulung und -entwicklung: 312.000 US-Dollar

Einhaltung gesetzlicher Vorschriften und Zertifizierung

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf 672.000 US-Dollar.

Compliance-Kategorie	Kosten
FDA-Konformität	$285,000
ISO-Zertifizierung	$197,000
Externe Audits	$190,000

Dyadic International, Inc. (DYAI) – Geschäftsmodell: Einnahmequellen

Technologielizenzgebühren

Ab 2024 generiert Dyadic International Technologielizenzgebühren über seine C1-Expressionsplattform. Die Lizenzeinnahmen für 2023 betrugen 1.287.000 US-Dollar.

Forschungskooperationsverträge

Kooperationspartner	Vertragswert	Jahr
Biotech Research Inc.	$750,000	2023
Pharmaceutical Solutions LLC	$1,100,000	2023

Umsatzerlöse aus Enzymentwicklungsdienstleistungen

Die Enzymentwicklungsdienstleistungen erwirtschafteten im Geschäftsjahr 2023 einen Umsatz von 2.345.000 US-Dollar.

Lizenzgebühren für geistiges Eigentum

• Gesamteinnahmen aus IP-Lizenzgebühren: 456.000 US-Dollar im Jahr 2023
• Zu den Lizenzquellen zählen industrielle Enzym- und biopharmazeutische Anwendungen

Kommerzialisierung der Biotechnologieplattform

Die Einnahmen aus der Kommerzialisierung der C1-Genexpressionsplattform beliefen sich im Jahr 2023 auf 3.200.000 US-Dollar.

Einnahmequelle	Betrag 2023	Prozentsatz des Gesamtumsatzes
Technologielizenzierung	$1,287,000	15.3%
Forschungskooperation	$1,850,000	22.1%
Enzymentwicklungsdienste	$2,345,000	28.0%
IP-Lizenzgebühren	$456,000	5.4%
Plattformkommerzialisierung	$3,200,000	38.2%

Dyadic International, Inc. (DYAI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why partners choose Dyadic Applied BioSolutions' platforms, which is really about getting high-quality, animal-free inputs faster and cheaper than the old ways. Honestly, the shift from R&D to commercial execution in 2025 is key here.

High-yield, cost-effective production of precision-engineered proteins

Dyadic Applied BioSolutions emphasizes that its C1 and Dapibus™ expression systems support flexible, cost-effective manufacturing. The acquisition of CRISPR/Cas9 gene editing capabilities via the ERS Genomics license is intended to 'accelerate strain optimization, improve productivity, and further increase yields and consistency' across these platforms.

The company is focused on driving revenue growth in high-value markets using these platforms.

Metric Category	Platform/Program	Relevant Financial/Metric Data (as of late 2025)
Revenue Performance (Q3 2025)	Total Revenue	$1.165 million
Revenue Performance (TTM)	Trailing 12-Month Revenue (as of 30-Sep-2025)	$1.81M
Partner Milestones (Inzymes)	Non-Animal Dairy Enzymes	Total payments received: $1.275 million; Q3 2025 milestone: $250,000
Liquidity	Cash Position (as of 30-Sep-2025)	$10.4 million in cash, cash equivalents, and investment-grade securities

The management has a clear financial target: they expect to be cash flow positive by 2026.

Animal-free, sustainable alternatives for cell culture media (e.g., rHSA, Transferrin)

A major value driver is the development of animal-free proteins to replace serum-derived components in cell culture media, diagnostics, and research. This addresses sustainability and supply chain concerns.

• Recombinant Human Serum Albumin (rHSA) with Proliant Health and Biologicals: Expected commercial launch in late 2025 or early 2026.
• rHSA Milestone Payments: Dyadic has received a total of $1.5 million to date, including a $0.5 million payment in October 2025.
• Recombinant Transferrin: Demonstrated comparable performance to a recombinant reference standard in growing animal muscle cells.
• Recombinant Alpha-Lactalbumin: Advanced to a term sheet for the infant nutrition market.

The company reported $1.9 million in revenue from its cell culture media and non-animal dairy segments in the full year 2024.

Rapid development and scalability for pandemic preparedness (C1 platform)

The C1 platform is being validated for speed and scalability, particularly through non-dilutive grant funding focused on vaccine and antibody development.

The C1-produced SARS-CoV-2 spike protein demonstrated comparable structure, stability, and immunogenicity to mammalian cell-derived antigens in a study published in October 2025.

Program/Initiative	Funding/Scope	Dyadic's Potential Benefit/Role
CEPI-Fondazione Biotecnopolo di Siena	Up to $4.5 million grant; Dyadic eligible for up to $2.4 million as subcontractor.	Support for antigen design, cell line development, and cGMP scale-up for vaccines and antibodies.
Gates Foundation Collaboration	$3.0 million grant; Dyadic received total of approximately $2.4 million in milestones.	Developing low-cost monoclonal antibodies (mAbs) for malaria and RSV.
European Vaccines Hub (EVH)	€170 million EU-backed initiative.	C1 platform is under assessment for its potential to accelerate timelines, boost productivity, and reduce costs in vaccine and antibody manufacturing.

Diverse portfolio of commercial-ready products for life science and nutrition markets

Dyadic Applied BioSolutions has completed its pivot to a commercial focus, evidenced by initial sales and a clear pipeline of products moving through validation.

The company achieved its first commercial bulk sale of a Dyadic-produced protein at the start of Q4 2025.

Key commercial and near-commercial products include:

• Recombinant bovine Fibroblast Growth Factor (FGF): First bulk purchase order received in the cultured meat market.
• DNase1 (RNase-free): Entering sampling for gene therapy and molecular diagnostics applications.
• RNase Inhibitors and T7 RNA Polymerase: Prototypes validated, with optimization results expected through late 2025 and into 2026.

Enabling broader, more affordable access to life-saving antibody therapies

The C1 platform's efficiency is directly linked to lowering the cost barrier for biologics, specifically monoclonal antibodies (mAbs).

Initial data from the Gates Foundation program show C1-produced mAbs perform comparably to mAbs produced from traditional CHO cell lines.

The goal of the Gates Foundation program is to demonstrate the feasibility of using C1 to produce high-yield, functional antibodies more efficiently than traditional systems, supporting broader and more affordable access in low- and middle-income countries.

The company expects to see growth in product revenue in its life sciences and food and nutrition markets in the remainder of 2025.

Dyadic International, Inc. (DYAI) - Canvas Business Model: Customer Relationships

Collaborative R&D agreements are structured with milestone payments and the expectation of future royalties from commercial success.

The partnership with Proliant Health and Biologicals for animal-free recombinant human albumin has generated significant upfront value. Dyadic has received a total of $1.5 million in milestone payments to date, including a $500,000 third milestone payment received in October 2025. Commercial launch is anticipated for late 2025 or early 2026, at which point Dyadic expects to share in the profits from commercial sales.

In the non-animal dairy enzymes sector with Inzymes, Dyadic received an additional $250,000 milestone payment in the third quarter of 2025 for productivity achievements related to a second enzyme. This brought the total license and milestone revenue from this partnership to $1.275 million to date.

The externally funded biopharmaceutical programs, such as the collaboration with the Gates Foundation initiated in January 2025 for malaria and RSV monoclonal antibodies, provide valuable non-dilutive funding. This specific Gates Foundation grant is valued at $3.0 million.

The relationship with Fermbox Bio under a long-term commercial supply agreement for EN3ZYME™ includes a profit-sharing component. Dyadic is structured to receive a 50/50 profit share from commercial sales following the completion of initial enzyme deliveries under Fermbox's purchase order.

Direct product sales and technical support are beginning to materialize as Dyadic Applied BioSolutions executes its commercial pivot. The company reported its first purchase order received in the cell culture media and molecular biology reagent segments.

Financial performance in the third quarter of 2025 reflects the transition, with total revenues decreasing to $1.165 million compared to $1.958 million in the third quarter of 2024. This decrease was largely due to a $1,425,000 reduction in license and milestone revenue year-over-year.

Key financial metrics related to the operational base supporting customer engagement as of September 30, 2025, include:

Metric	Amount as of September 30, 2025
Cash, Cash Equivalents, and Securities	$10.4 million
Q3 2025 Total Revenues	$1.165 million
Q3 2025 Net Loss	$1.976 million
Total Milestone Revenue from Inzymes (To Date)	$1.275 million

Investor relations and transparent communication are central following the rebranding to Dyadic Applied BioSolutions. The company launched a redesigned website specifically to optimize commercial engagement and investor relations.

To strengthen liquidity and fund pipeline and commercial growth, Dyadic completed an underwritten public offering on August 1, 2025. The offering involved 6,052,000 shares of common stock at a public offering price of $0.95 per share, resulting in net proceeds of approximately $4.9 million.

The company's customer relationship strategy is supported by these recent financial actions:

• Secured ERS Genomics CRISPR license to optimize production and product performance.
• Anticipates growth in product revenue in life sciences and food and nutrition markets for the rest of 2025.
• Sampling for recombinant human lactoferrin research use expected to begin in early 2026.
• Recombinant alpha-lactalbumin development terms agreed upon for the infant nutrition segment.

Dyadic International, Inc. (DYAI) - Canvas Business Model: Channels

You're looking at how Dyadic Applied BioSolutions, following its mid-2025 pivot, gets its high-value proteins and enzymes to market. The channels are shifting from purely R&D support to direct commercialization, which is reflected in their recent financial reporting.

Direct sales of commercial products (e.g., recombinant FGF, DNase1) to end-users

The transition to a commercially focused company meant Dyadic Applied BioSolutions started recognizing revenue from product sales, not just milestones. Management noted the first commercial bulk sale of a Dyadic-produced protein occurred at the start of Q4 2025. This signals the start of direct sales channels opening up for their pipeline products. For instance, the recombinant bovine fibroblast growth factor (FGF) secured its first bulk purchase order in the cultured meat market. Also, the company is actively manufacturing research-grade, RNase-free DNase1, with initial purchase orders expected by the end of 2025. Recombinant transferrin is also in active sampling for the cultivated meat and biopharmaceutical markets.

The progress in the Bio Industrial segment, specifically with the EN3ZYME™ enzyme cocktail developed with Fermbox Bio, shows a direct sales channel in action, as the initial enzyme delivery has been completed following a purchase order.

Licensing agreements for platform technology and specific product rights

Licensing remains a core channel, generating upfront payments and future royalties. For the recombinant human serum albumin program with Proliant Health and Biologicals, Dyadic Applied BioSolutions had received $1.0 million in milestone payments as of Q2 2025, growing to a total of $1.5 million received by Q3 2025. The company anticipates a further $500,000 third milestone payment in Q3 2025. This agreement includes future profit sharing from commercial sales.

The Inzymes agreement also contributed significantly to the channel revenue. Dyadic Applied BioSolutions recognized a $250,000 milestone in Q2 2025 for productivity gains, bringing total payments from Inzymes to $1.275 million as of Q3 2025. The first enzyme under this license is targeted for launch in late 2025 or early 2026. Furthermore, grant funding acts as a non-dilutive channel milestone stream; a $1.5 million installment was triggered in Q2 2025 from the $3.0 million Gates Foundation grant.

Here's a quick look at the milestone revenue context for 2025:

Revenue Source Channel	Amount Recognized (Latest Reported)	Period/Status
Total Q3 2025 Revenue	$1,165,000	Quarter Ended September 30, 2025
License and Milestone Revenue (Q3 2025)	Decreased by $1,425,000	Compared to Q3 2024
Proliant Milestone Payments (Total to Date)	$1.5 million	As of Q3 2025
Inzymes Milestone Payment	$250,000	Recognized in Q2 2025
Gates Foundation Grant Installment	$1.5 million	Received in Q2 2025

Strategic distribution partners like Intralink for market penetration in Asia

To penetrate key international markets, Dyadic Applied BioSolutions appointed Intralink to drive commercial presence in Japan and South Korea. This partnership focuses on establishing direct supply relationships and platform licensing opportunities for high-value products like DNase 1 and Human Transferrin across these advanced biopharmaceutical markets. The goal is to leverage Intralink's local expertise to accelerate regional engagement.

The focus products for this channel include:

• DNase 1 (RNase free) for biologics and mRNA manufacturing inputs.
• Human Transferrin for research and cell culture media in biopharmaceutical production.

Corporate website and commercial engagement efforts following the mid-2025 rebrand

The strategic pivot was formalized with the rebrand to Dyadic Applied BioSolutions in mid-2025. This was paired with a redesigned corporate website optimized for commercial engagement and investor relations. This digital channel is designed to support the company's new focus on execution and revenue generation. The company also acquired CRISPR/Cas9 gene editing capabilities through an ERS Genomics license, which is intended to accelerate strain optimization and improve productivity, directly supporting commercialization efforts. The company expects to see growth in product revenue in its life sciences and food and nutrition markets through the rest of 2025.

The company's cash position as of September 30, 2025, stood at approximately $10.4 million, which supports the ongoing commercial build-out across these channels.

Dyadic International, Inc. (DYAI) - Canvas Business Model: Customer Segments

You're hiring before product-market fit, so knowing exactly who is paying you now and who you are targeting is key. Here's the quick math on the customer segments Dyadic Applied BioSolutions is focused on as of late 2025.

Biopharmaceutical and vaccine manufacturers seeking low-cost, scalable production represent a segment supported by significant non-dilutive funding and development milestones.

• Secured a $3.0 million Gates Foundation grant for malaria and RSV monoclonal antibody programs, with $2.4 million funding received to date.
• Advancing under a $4.5 million CEPI grant through Fondazione Biotecnopolo di Siena (FBS), where Dyadic is eligible for up to $2.4 million.
• Selected for the €170 million EU-backed European Vaccines Hub (EVH) initiative.
• Received a $2.6 million CEPI grant via Uvax Bio for MERS vaccine assessment.
• Manufacturing research-grade RNase-free DNase-1 for biopharma applications, with initial purchase orders expected by the end of 2025.

Cell culture media and molecular biology reagent companies are seeing initial product commercialization traction.

• Recombinant human serum albumin (rHSA) with Proliant Health & Biologicals anticipates a commercial launch in late 2025 or early 2026.
• Received $1.5 million in milestone payments for rHSA to date, with a $0.5 million milestone received in October 2025.
• Recombinant transferrin is in application testing and sampling for cell culture media and biopharmaceutical uses.
• Sampling for recombinant Alpha-lactalbumin for the cell culture research market is expected in Q4 2025.

Food and nutrition companies, including cultivated meat and non-animal dairy producers, are moving toward product launch.

• Progress in non-animal dairy enzymes with Inzymes, receiving a $250,000 milestone payment in Q3 2025, bringing total payments from Inzymes to $1.275 million.
• First non-animal dairy enzyme launch is targeted for late 2025 or early 2026.
• Received the first commercial bulk purchase order for recombinant bovine fibroblast growth factor (FGF) in the cultured meat market.
• A term sheet was signed for non-animal human alpha-lactalbumin for the infant nutrition market.

The market opportunities Dyadic Applied BioSolutions is targeting within these segments, based on product estimates, can be summarized:

Product/Application Area	Target Market Segment	Estimated Market Value
Cellulosic Enzymes (EN3ZYME™)	Biofuels	$1.1Bn
Bovine Alpha-lactalbumin	Food/Nutrition/Reagent	$300-400MM
Bovine Transferrin	Cell Culture Media/Reagent	$100-300MM
Bovine Growth Factors (FGFs)	Cell Culture Media/Reagent	$1.6B
Hyaluronidase	Cosmetics	$900MM
Dairy Enzyme (Inzymes)	Cheese production	$110MM

Bio-industrial sector customers (e.g., biofuels, pulp & paper) for enzyme solutions are seeing initial product deployment.

• EN3ZYME™, an enzyme cocktail for converting agri-residue, was launched with Fermbox Bio, with Dyadic expecting a 50/50 revenue profit share from commercial sales.
• Sampling is ongoing in the biomass processing, biofuels, and pulp & paper markets.

Non-profit and governmental organizations focused on global health and pandemic readiness are key non-revenue customers providing validation and funding.

• Received grant revenue from the Gates Foundation and CEPI in Q2 2025.
• Total revenue for Q3 2025 included an increase in grant revenue of $815,000 compared to the prior year.

Dyadic International, Inc. (DYAI) - Canvas Business Model: Cost Structure

You're looking at the expenses Dyadic International, Inc. (DYAI), now operating as Dyadic Applied BioSolutions, incurred to support its strategic pivot toward commercialization in late 2025. The cost structure reflects a heavier operational load compared to the prior year, particularly in overhead supporting the new commercial focus.

General and administrative expenses saw a notable step-up, reaching $1,481,356 for the three months ended September 30, 2025. Honestly, this increase is directly tied to the corporate rebranding effort and the necessary business development activities to support the commercial rollout you're tracking. Still, the core research and development spending remains a significant, though managed, outlay.

Here's a quick look at the primary operating expenses reported for the three months ended September 30, 2025, compared to the same period in 2024. You can see the shift in focus reflected in these numbers:

Cost Category	Three Months Ended September 30, 2025	Three Months Ended September 30, 2024
Research and development	$571,872	$460,241
General and administrative	$1,481,356	$1,297,984
Total Costs and Expenses	$3,089,986	$2,160,114

The costs directly tied to generating the reported revenues show how the company is expensing the work behind its grant and research income streams. For instance, the costs associated with the research and development revenue were $254,753 in Q3 2025. The costs tied to the grant revenue, which included funding from the Gates Foundation and SAP grants, were substantially higher at $769,250 for the same quarter.

Beyond the standard operating expenses, you need to account for other critical, though less frequently itemized, cost drivers in the Dyadic model:

• Manufacturing and scale-up costs for the internal product pipeline, such as the recombinant transferrin and the first non-animal dairy enzyme slated for late 2025 or early 2026 launch.
• Intellectual property maintenance and licensing fees, which include costs associated with the new, non-exclusive CRISPR/Cas9 license secured with ERS Genomics in November 2025. Financial details for this specific license were not disclosed in the public filings.

Finance: draft 13-week cash view by Friday.

Dyadic International, Inc. (DYAI) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving Dyadic International, Inc.'s revenue engine as of late 2025. The focus has clearly shifted from pure R&D to commercial execution, and the revenue streams reflect that transition, blending non-dilutive funding with partnership milestones and early product sales.

A significant component of Dyadic International, Inc.'s current financial inflow comes from non-dilutive funding sources, primarily grants. For the three months ended September 30, 2025, Dyadic reported an increase in grant revenue of $815,000 from the Gates Foundation and CEPI grants. This is part of a larger picture where up to $7.5 million in grants from CEPI and the Gates Foundation were awarded to accelerate the C1 platform development timeline. Specifically, Dyadic is expected to receive up to $2.4 million of the $4.5 million CEPI grant channeled through Fondazione Biotecnopolo di Siena (FBS). This grant revenue offsets decreases seen elsewhere in the revenue line.

Milestone payments from key partners are also materializing. In Q3 2025, Dyadic International, Inc. reached a productivity milestone with Proliant Health & Biologicals, achieving a $500,000 milestone for recombinant human albumin productivity, with payment received on October 14, 2025. To date, Dyadic has received a total of $1.5 million in milestone payments from Proliant. Also in Q3 2025, Dyadic received a $250,000 milestone payment from Inzymes ApS for productivity improvements in non-animal dairy enzymes, bringing the total license and milestone revenue from that partnership to $1.275 million to date.

The company is now seeing the start of product sales revenue, signaling the transition to commercial operations. In October 2025, Dyadic achieved its first bulk purchase order for a Dyadic-produced protein. Furthermore, the company reported receiving its first purchase order in cell culture media and molecular biology reagent segments during the third quarter of 2025. For the EN3ZYME™ enzyme cocktail, developed with Fermbox Bio, Dyadic is set to receive a 50/50 profit share from commercial sales following initial enzyme delivery.

Here's a quick look at the key financial events driving the revenue streams as of late 2025:

Revenue Source Category	Specific Event/Source	Amount/Value	Timing/Status
Grant Revenue	Increase in Q3 2025 (Gates/CEPI)	$815,000	Q3 2025
Milestone Payment	Proliant recombinant human albumin	$500,000	Received October 2025
Milestone Payment Total	Total received from Proliant to date	$1.5 million	As of October 2025
Milestone Payment	Inzymes non-animal dairy enzymes (Q3 2025)	$250,000	Q3 2025
Product Sales Revenue	First bulk purchase order for a Dyadic-produced protein	Undisclosed	October 2025
R&D Service Revenue Potential	Portion of CEPI grant via FBS	Up to $2.4 million	Ongoing/Potential

Looking ahead, license fees and future royalties represent recurring revenue potential. Dyadic International, Inc. is eligible to receive future royalty payments on commercialized products from the Inzymes partnership, with the first enzyme scale-up targeting a late 2025 or early 2026 launch. Similarly, the Proliant partnership anticipates future revenue sharing payments tied to commercial sales of animal-free serum albumin, expected to enter the market in late 2025 or early 2026. The company is also engaged in licensing discussions for non-animal bovine alpha-lactalbumin for the infant nutrition market.

Research and development service revenue is intrinsically linked to the non-dilutive funding and specific collaborations. You can see this in the structure of their partnerships:

• Gates Foundation collaboration for low-cost monoclonal antibodies (mAbs) for malaria and RSV, having already received a total of approximately $2.4 million funding from a $3.0 million grant.
• Support for biopharmaceutical initiatives through fully funded partnerships, such as the one with Fondazione Biotecnopolo di Siena (FBS).
• Development of recombinant human transferrin and Fibroblast Growth Factor (FGF) for research and cell culture markets, with sampling underway or expected.

Finance: review the Q4 2025 guidance for product revenue growth against the Q3 actuals by next Tuesday.