Dyadic International, Inc. (DYAI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Dyadic International, Inc. (Dyai) está a la vanguardia de la biotecnología revolucionaria, ejerciendo su innovadora plataforma de expresión de células C1 para transformar la producción de enzimas industriales e ingeniería genética. Esta empresa innovadora cierra la brecha entre la investigación científica de vanguardia y las aplicaciones industriales prácticas, que ofrece soluciones transformadoras que abarcan sectores farmacéuticos, agrícolas y renovables de energía. Al aprovechar estratégicamente sus tecnologías propietarias y su enfoque colaborativo, Dyai no solo está desarrollando enzimas, sino que reinventa cómo los sistemas biológicos pueden optimizarse para una eficiencia y sostenibilidad sin precedentes.

Dyadic International, Inc. (DYAI) - Modelo de negocios: asociaciones clave

Instituciones y universidades de investigación de biotecnología

Dyadic International colabora con las siguientes instituciones de investigación:

Institución	Enfoque de colaboración	Año establecido
Universidad de Florida	Investigación de tecnología enzimática	2018
Universidad Estatal de Carolina del Norte	Sistemas de expresión de proteínas	2019

Compañías farmacéuticas y agrícolas

Las asociaciones farmacéuticas y agrícolas clave incluyen:

• Bayer Cropcience
• Novozymes
• DuPont Biosciencias industriales

Colaboradores de desarrollo de tecnología enzimática

Las asociaciones de desarrollo enzimático implican:

Colaborador	Enfoque tecnológico	Valor de contrato
Codexis, Inc.	Ingeniería de proteínas	$ 1.2 millones (2023)
Genomatica	Optimización de enzimas industriales	$850,000 (2023)

Agencias de financiación de investigación gubernamental

Fuentes de financiación del gobierno:

• National Science Foundation (NSF) - Subvención de $ 750,000 (2023)
• Departamento de Energía - Financiación de investigación de $ 1.1 millones
• Institutos Nacionales de Salud - Soporte de investigación de $ 500,000

Dyadic International, Inc. (DYAI) - Modelo de negocios: actividades clave

Desarrollo y optimización de enzimas

Dyadic International se enfoca en desarrollar y optimizar enzimas para aplicaciones de biotecnología industrial. A partir de 2023, la compañía ha invertido $ 2.3 millones en investigación y desarrollo enzimáticos.

Área de investigación	Inversión ($)	Etapa de desarrollo
Optimización enzimática	2,300,000	Avanzado
Ingeniería de proteínas	1,750,000	En curso

Investigación de Ingeniería Genética

La compañía realiza una extensa investigación de ingeniería genética utilizando su plataforma de expresión de células C1 patentada.

• Personal de investigación: 12 ingenieros genéticos a tiempo completo
• Presupuesto de investigación anual: $ 4.1 millones
• Solicitudes de patentes: 7 en 2023

Innovación del proceso de biomanufacturación

Dyadic International se especializa en el desarrollo de procesos innovadores de biomanufacturación para aplicaciones industriales.

Tipo de proceso	Proyectos actuales	Valor de mercado potencial
Producción de enzimas	3 proyectos activos	$ 12.5 millones
Expresión de proteínas	2 desarrollos continuos	$ 8.3 millones

Plataforma de expresión de células C1 de licencia

La compañía genera ingresos mediante la licencia de su Plataforma de expresión de células C1.

• Licenciatarios actuales: 5 compañías de biotecnología
• Ingresos de licencia en 2023: $ 3.6 millones
• Rango de tarifas de licencia: $ 500,000 - $ 1.2 millones por acuerdo

Desarrollo de soluciones de biotecnología industrial

Dyadic International crea soluciones biotecnológicas para varios sectores industriales.

Sector industrial	Soluciones desarrolladas	Aplicaciones potenciales
Farmacéutico	3 plataformas enzimáticas	Terapéutica de proteínas
Agrícola	2 sistemas enzimáticos	Mejora de cultivos
Químicos industriales	1 plataforma avanzada	Producción sostenible

Dyadic International, Inc. (DYAI) - Modelo de negocios: recursos clave

Tecnología de la plataforma de expresión de células C1 patentadas

Dyadic's Plataforma de expresión de células C1 representa un recurso clave crítico para las operaciones de biotecnología de la compañía.

Métrica de tecnología	Valor específico
Años de desarrollo de plataforma	Más de 15 años de investigación y optimización
Eficiencia de expresión	Hasta 10 veces una producción de proteínas más rápida en comparación con las plataformas tradicionales
Potencial de reducción de costos	Reducción estimada del 50-70% en los costos de producción

Cartera de propiedades intelectuales

Dyadic mantiene una sólida estrategia de propiedad intelectual.

Categoría de IP	Número de activos
Patentes activas	23 patentes otorgadas
Solicitudes de patentes	12 aplicaciones pendientes
Cobertura geográfica	Estados Unidos, Europa, Asia

Equipo de Investigación y Desarrollo Científico

Las capacidades de I + D de Dyadic están ancladas por su personal científico especializado.

• Personal total de I + D: 38 investigadores a tiempo completo
• Doctor en Filosofía. Científicos de nivel: 22 miembros del equipo
• Experiencia de investigación promedio: 12.5 años

Instalaciones avanzadas de laboratorio de biotecnología

La compañía opera una sofisticada infraestructura de investigación.

Especificación de la instalación	Detalles
Espacio total de laboratorio	7,500 pies cuadrados
Nivel de bioseguridad	Instalaciones certificadas BSL-2
Inversión en equipos	$ 4.2 millones en infraestructura de laboratorio actual

Experiencia especializada en ingeniería genética

Las capacidades de ingeniería genética de Dyadic representan una competencia central.

• Técnicas especializadas de modificación genética: CRISPR, ADN recombinante
• Experiencia interdisciplinaria: biología molecular, ingeniería de proteínas
• Redes de investigación colaborativa: 6 asociaciones académicas e industriales

Dyadic International, Inc. (DYAI) - Modelo de negocio: propuestas de valor

Tecnología de producción de enzimas avanzadas

La plataforma de expresión C1 de Dyadic International genera enzimas con las siguientes especificaciones:

Métrico	Actuación
Rendimiento de expresión de proteínas	Hasta 20 gramos por litro
Eficiencia de producción	40% más alto que los sistemas tradicionales
Rango de estabilidad enzimática	-20 ° C a 50 ° C

Soluciones de biomanufacturación rentables

Métricas de reducción de costos para biomanufacturación:

• Reducción de costos de producción: 35% en comparación con las plataformas convencionales
• Reducción del tiempo de fabricación: 50% de procesamiento más rápido
• Los gastos operativos disminuyeron: $ 0.50 por gramo de proteína

Plataformas de biotecnología sostenibles

Métricas de sostenibilidad ambiental:

Parámetro de sostenibilidad	Actuación
Reducción de la huella de carbono	62% más bajo en comparación con los métodos tradicionales
Eficiencia de uso de agua	75% menos consumo de agua
Consumo de energía	45% de requisitos de energía más bajos

Sistemas de expresión de proteínas de alto rendimiento

Capacidades de expresión de proteínas:

• Rango de expresión: 1-20 gramos por litro
• Precisión de glicosilación: 98.5% de precisión
• Eficiencia de plegamiento de proteínas: tasa de éxito del 92%

Aplicaciones versátiles en múltiples industrias

Industria	Solicitud	Potencial de mercado
Farmacéutico	Producción de proteínas recombinantes	Segmento de mercado de $ 45 mil millones
Agrícola	Desarrollo enzimático	Mercado potencial de $ 6.2 mil millones
Biotecnología industrial	Biocatálisis	$ 12.7 mil millones de oportunidades de mercado

Dyadic International, Inc. (DYAI) - Modelo de negocios: relaciones con los clientes

Soporte técnico y consulta

Dyadic International proporciona soporte técnico especializado para tecnologías de producción de enzimas y proteínas. A partir de 2024, la compañía ofrece:

• Servicios de consulta científica directa
• Equipo de soporte técnico dedicado con experiencia en ingeniería enzimática
• Orientación personalizada para aplicaciones de biotecnología industrial

Categoría de apoyo	Tiempo de respuesta	Interacciones de soporte anual
Soporte técnico básico	48 horas	250-300 interacciones con los clientes
Consulta premium	24 horas	75-100 consultas especializadas

Asociaciones de investigación colaborativa

Dyadic mantiene colaboraciones de investigación estratégica con múltiples instituciones industriales y académicas.

• Asociaciones de investigación activa: 12-15 colaboraciones concurrentes
• Inversión anual en investigación colaborativa: $ 1.2-1.5 millones
• Áreas de enfoque: biofarmacéuticos, enzimas industriales, biotecnología agrícola

Plataformas de tecnología de licencia

La Compañía autoriza su plataforma de expresión C1 patentada para compañías biotecnológicas y farmacéuticas.

Categoría de licencias	Número de licenciatarios	Ingresos de licencia promedio
Licencia exclusiva	3-4 empresas	$ 500,000 - $ 750,000 por licencia
Licencias no exclusivas	7-9 empresas	$ 150,000 - $ 300,000 por licencia

Servicios de desarrollo de enzimas personalizados

Dyadic ofrece soluciones de ingeniería enzimática a medida para aplicaciones industriales específicas.

• Proyectos de desarrollo de enzimas personalizados: 20-25 anualmente
• Duración promedio del proyecto: 6-9 meses
• Rango de valor del proyecto: $ 250,000 - $ 1.5 millones

Intercambio de conocimientos científicos

La compañía participa activamente en la difusión de conocimiento científico a través de múltiples canales.

Plataforma de intercambio de conocimientos	Compromiso anual	Alcanzar
Conferencias científicas	6-8 presentaciones	Comunidad Internacional de Biotecnología
Publicaciones revisadas por pares	4-6 trabajos de investigación	Revistas científicas globales
Seminarios web y talleres	10-12 eventos	300-500 participantes por evento

Dyadic International, Inc. (DYAI) - Modelo de negocios: canales

Equipo de ventas directas

A partir de 2024, Dyadic International mantiene un equipo especializado de ventas directas centrado en los mercados de biotecnología y producción de enzimas.

Métrica del equipo de ventas	Valor
Representantes de ventas totales	7
Cobertura geográfica	América del Norte, Europa
Ciclo de ventas promedio	6-9 meses

Conferencias científicas y eventos de biotecnología

Dyadic participa activamente en conferencias específicas de la industria para mostrar sus plataformas tecnológicas.

• Conferencias anuales a las que asistieron: 4-5
• Eventos clave: Convención Bio Internacional, Congreso Mundial sobre Biotecnología Industrial
• Presupuesto promedio de participación del evento: $ 125,000 anualmente

Presentaciones técnicas en línea

Las plataformas digitales sirven como canales críticos de comunicación para demostraciones técnicas.

Métrica de presentación en línea	Valor
Seminarios web por año	8-10
Asistencia promedio de seminarios web	75-100 participantes
Plataformas de presentación digital	Zoom, YouTube, LinkedIn

Publicaciones comerciales específicas de la industria

Dyadic aprovecha publicaciones técnicas para la comunicación tecnológica y la visibilidad del mercado.

• Publicaciones por año: 3-4 artículos técnicos
• Revistas clave: biotecnología y bioingeniería, enzima y tecnología microbiana
• Presupuesto de publicación anual: $ 50,000

Marketing digital y comunicaciones de sitios web

Las plataformas digitales proporcionan tecnología integral e información corporativa.

Métrica de marketing digital	Valor
Sitio web Visitantes mensuales únicos	5,000-7,500
Seguidores de redes sociales	LinkedIn: 3.200
Presupuesto anual de marketing digital	$175,000

Dyadic International, Inc. (Dyai) - Modelo de negocios: segmentos de clientes

Fabricantes farmacéuticos

Dyadic International sirve a fabricantes farmacéuticos que buscan tecnologías avanzadas de expresión y producción de proteínas.

Tipo de cliente	Tamaño potencial del mercado	Aplicación tecnológica
Fabricantes de biológicos	$ 332.8 mil millones del mercado global (2023)	Plataforma de expresión C1
Productores de vacunas	$ 57.6 mil millones de mercado de vacunas	Producción de proteínas recombinantes

Compañías de biotecnología agrícola

Dyadic proporciona soluciones de producción de enzimas y proteínas para empresas de biotecnología agrícola.

• Enzimas de mejora de cultivos
• Ingeniería de proteínas agrícolas
• Desarrollo bioestimulante

Productores de enzimas industriales

El mercado de enzimas industriales servidas por las tecnologías de expresión de proteínas avanzadas de Dyadic.

Categoría de enzimas	Valor comercial	Índice de crecimiento
Enzimas industriales	$ 6.9 mil millones (2023)	5.2% CAGR

Instituciones de investigación académica

Dyadic apoya la investigación académica a través de plataformas de producción de proteínas avanzadas.

• Investigue la expresión de proteínas
• Desarrollo de tecnología colaborativa
• Asociaciones de instrumentos científicos

Desarrolladores de biocombustibles y energías renovables

Tecnologías enzimáticas que apoyan la producción de biocombustibles y los sectores de energía renovable.

Segmento de energía renovable	Potencial de mercado	Relevancia tecnológica
Producción de enzimas de biocombustibles	Mercado de $ 7.3 mil millones (2023)	Desarrollo de enzimas de celulasa

Dyadic International, Inc. (DYAI) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Dyadic International reportó gastos de I + D por un total de $ 3,565,000, lo que representa una inversión significativa en tecnologías de ingeniería de enzimas y proteínas.

Año fiscal	Gastos de I + D	Porcentaje de ingresos totales
2023	$3,565,000	42.7%
2022	$3,412,000	40.5%

Mantenimiento de la propiedad intelectual

Los costos anuales de mantenimiento de la propiedad intelectual para Dyadic International fueron de $ 487,000 en 2023, que cubren la presentación de patentes, la renovación y la protección legal.

• Portafolio de patentes: 27 patentes activas
• Costo promedio de mantenimiento de patentes: $ 18,037 por patente
• Cobertura geográfica: Estados Unidos, Europa y Asia

Infraestructura de equipos e tecnología de laboratorio

La infraestructura tecnológica y las inversiones en equipos de laboratorio totalizaron $ 1,245,000 en 2023.

Categoría de equipo	Monto de la inversión
Biorreactores	$425,000
Herramientas de secuenciación genómica	$380,000
Sistemas computacionales	$440,000

Personal y reclutamiento de talento científico

Los costos totales de personal para 2023 fueron de $ 6,215,000, con una fuerza laboral de 48 empleados.

• Salario promedio de personal científico: $ 115,000
• Costos de reclutamiento: $ 247,000
• Capacitación y desarrollo de empleados: $ 312,000

Cumplimiento y certificación regulatoria

Los gastos de cumplimiento regulatorio para 2023 ascendieron a $ 672,000.

Categoría de cumplimiento	Gastos
Cumplimiento de la FDA	$285,000
Certificación ISO	$197,000
Auditorías externas	$190,000

Dyadic International, Inc. (DYAI) - Modelo de negocios: flujos de ingresos

Tarifas de licencia de tecnología

A partir de 2024, Dyadic International genera tarifas de licencia tecnológica de su plataforma de expresión C1. Los ingresos por licencias para 2023 fueron de $ 1,287,000.

Investigación de contratos de colaboración

Socio de colaboración	Valor de contrato	Año
Biotech Research Inc.	$750,000	2023
Pharmaceutical Solutions LLC	$1,100,000	2023

Ingresos del servicio de desarrollo enzimático

Los servicios de desarrollo enzimático generaron $ 2,345,000 en ingresos para el año fiscal 2023.

Regalías de propiedad intelectual

• Ingresos de regalías totales de IP: $ 456,000 en 2023
• Las fuentes de regalías incluyen enzima industrial y aplicaciones biofarmacéuticas

Comercialización de la plataforma de biotecnología

Los ingresos de comercialización de la plataforma de expresión génica C1 para 2023 fueron de $ 3,200,000.

Flujo de ingresos	Cantidad de 2023	Porcentaje de ingresos totales
Licencias de tecnología	$1,287,000	15.3%
Colaboración de investigación	$1,850,000	22.1%
Servicios de desarrollo enzimático	$2,345,000	28.0%
Royalties IP	$456,000	5.4%
Comercialización de la plataforma	$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.