Dyadic International, Inc. (Dyai): Business Model Canvas [Jan-2025 Mis à jour]

Dyadic International, Inc. (Dyai) est à l'avant-garde de la biotechnologie révolutionnaire, exerçant sa plate-forme d'expression de cellules C1 révolutionnaire pour transformer la production enzymatique industrielle et le génie génétique. Cette entreprise innovante comble l'écart entre la recherche scientifique de pointe et les applications industrielles pratiques, offrant des solutions transformatrices qui couvrent des secteurs pharmaceutique, agricole et renouvelable. En tirant stratégiquement ses technologies propriétaires et son approche collaborative, Dyai ne développe pas seulement des enzymes, mais réinvente comment les systèmes biologiques peuvent être optimisés pour une efficacité et une durabilité sans précédent.

Dyadic International, Inc. (Dyai) - Modèle commercial: partenariats clés

Institutions et universités de recherche en biotechnologie

Dyadic International collabore avec les institutions de recherche suivantes:

Institution	Focus de la collaboration	Année établie
Université de Floride	Recherche technologique enzymatique	2018
Université d'État de Caroline du Nord	Systèmes d'expression des protéines	2019

Entreprises pharmaceutiques et agricoles

Les partenariats pharmaceutiques et agricoles clés comprennent:

• Bayer Cropscience
• Nonozymes
• Dupont Industrial Biosciences

Collaborateurs du développement de la technologie enzymatique

Les partenariats de développement enzymatiques impliquent:

Collaborateur	Focus technologique	Valeur du contrat
Codexis, Inc.	Ingénierie des protéines	1,2 million de dollars (2023)
Genomatica	Optimisation de l'enzyme industrielle	$850,000 (2023)

Agences de financement de la recherche gouvernementale

Sources de financement du gouvernement:

• National Science Foundation (NSF) - Grant 750 000 $ (2023)
• Département de l'énergie - Financement de recherche de 1,1 million de dollars
• National Institutes of Health - Soutien de recherche de 500 000 $

Dyadic International, Inc. (Dyai) - Modèle d'entreprise: activités clés

Développement et optimisation des enzymes

Dyadic International se concentre sur le développement et l'optimisation des enzymes pour les applications de biotechnologie industrielle. En 2023, la société a investi 2,3 millions de dollars dans la recherche et le développement enzymatiques.

Domaine de recherche	Investissement ($)	Étape de développement
Optimisation enzymatique	2,300,000	Avancé
Ingénierie des protéines	1,750,000	En cours

Recherche en génie génétique

La société mène une vaste recherche en génie génétique en utilisant sa plate-forme d'expression de cellules C1 propriétaire.

• Personnel de recherche: 12 ingénieurs génétiques à temps plein
• Budget de recherche annuel: 4,1 millions de dollars
• Demandes de brevet: 7 en 2023

Innovation du processus de bio-fabrication

Dyadic International se spécialise dans le développement de processus de biaboportage innovants pour les applications industrielles.

Type de processus	Projets en cours	Valeur marchande potentielle
Production enzymatique	3 projets actifs	12,5 millions de dollars
Expression des protéines	2 Développements en cours	8,3 millions de dollars

Licensing Plateforme d'expression de cellules C1 propriétaires

La société génère des revenus en lisant son Plateforme d'expression de cellules C1.

• Licenciés actuels: 5 sociétés de biotechnologie
• Revenus de licence en 2023: 3,6 millions de dollars
• Frais d'octroi de licences: 500 000 $ - 1,2 million de dollars par accord

Développer des solutions de biotechnologie industrielle

Dyadic International crée des solutions de biotechnologie pour divers secteurs industriels.

Secteur de l'industrie	Solutions développées	Applications potentielles
Pharmaceutique	3 plates-formes enzymatiques	Thérapeutique protéique
Agricole	2 systèmes enzymatiques	Amélioration des cultures
Produits chimiques industriels	1 plate-forme avancée	Production durable

Dyadic International, Inc. (Dyai) - Modèle d'entreprise: Ressources clés

Technologie de plate-forme d'expression de cellules C1 propriétaire

Dyadique Plateforme d'expression de cellules C1 représente une ressource clé critique pour les opérations de biotechnologie de l'entreprise.

Métrique technologique	Valeur spécifique
Années de développement de la plate-forme	Plus de 15 ans de recherche et d'optimisation
Efficacité d'expression	Jusqu'à 10 fois la production de protéines plus rapides par rapport aux plateformes traditionnelles
Potentiel de réduction des coûts	Réduction estimée de 50 à 70% des coûts de production

Portefeuille de propriété intellectuelle

Dyadic maintient une solide stratégie de propriété intellectuelle.

Catégorie IP	Nombre d'actifs
Brevets actifs	23 brevets accordés
Demandes de brevet	12 applications en attente
Couverture géographique	États-Unis, Europe, Asie

Équipe de recherche et développement scientifique

Les capacités de R&D de Dyadic sont ancrées par son personnel scientifique spécialisé.

• Personnel total de R&D: 38 chercheurs à temps plein
• doctorat Scientifiques de niveau: 22 membres de l'équipe
• Expérience de recherche moyenne: 12,5 ans

Installations avancées de laboratoire de biotechnologie

L'entreprise exploite une infrastructure de recherche sophistiquée.

Spécification de l'installation	Détails
Espace de laboratoire total	7 500 pieds carrés
Niveau de biosécurité	Installations certifiées BSL-2
Investissement de l'équipement	4,2 millions de dollars d'infrastructures de laboratoire actuelles

Expertise spécialisée en génie génétique

Les capacités de génie génétique de Dyadic représentent une compétence de base.

• Techniques spécialisées de modification génétique: CRISPR, ADN recombinant
• Expertise interdisciplinaire: biologie moléculaire, ingénierie des protéines
• Réseaux de recherche collaborative: 6 partenariats académiques et industriels

Dyadic International, Inc. (Dyai) - Modèle d'entreprise: propositions de valeur

Technologie avancée de production d'enzymes

La plate-forme d'expression C1 de Dyadic International génère des enzymes avec les spécifications suivantes:

Métrique	Performance
Rendement de l'expression des protéines	Jusqu'à 20 grammes par litre
Efficacité de production	40% plus élevé que les systèmes traditionnels
Gamme de stabilité enzymatique	-20 ° C à 50 ° C

Solutions de biopingage rentables

Métriques de réduction des coûts pour la biopromation:

• Réduction des coûts de production: 35% par rapport aux plateformes conventionnelles
• Réduction du temps de fabrication: traitement 50% plus rapide
• Les dépenses opérationnelles ont diminué: 0,50 $ par gramme de protéines

Plateformes de biotechnologie durable

Métriques de la durabilité environnementale:

Paramètre de durabilité	Performance
Réduction de l'empreinte carbone	62% inférieur par rapport aux méthodes traditionnelles
Efficacité d'utilisation de l'eau	75% de consommation d'eau en moins
Consommation d'énergie	45% de besoins énergétiques inférieurs

Systèmes d'expression des protéines haute performance

Capacités d'expression des protéines:

• Plage d'expression: 1-20 grammes par litre
• Précision de la glycosylation: 98,5% de précision
• Efficacité du pliage des protéines: taux de réussite à 92%

Applications polyvalentes dans plusieurs industries

Industrie	Application	Potentiel de marché
Pharmaceutique	Production de protéines recombinantes	Segment de marché de 45 milliards de dollars
Agricole	Développement de l'enzyme	6,2 milliards de dollars de marché potentiel
Biotechnologie industrielle	Biocatalyse	Opportunité de marché de 12,7 milliards de dollars

Dyadic International, Inc. (Dyai) - Modèle d'entreprise: relations avec les clients

Soutien technique et consultation

Dyadic International fournit un support technique spécialisé pour les technologies de production d'enzymes et de protéines. Depuis 2024, la société propose:

• Services de consultation scientifique directs
• Équipe de support technique dédiée avec une expertise en ingénierie enzymatique
• Conseils personnalisés pour les applications de biotechnologie industrielle

Catégorie de support	Temps de réponse	Interactions de soutien annuelles
Assistance technique de base	48 heures	250-300 interactions client
Consultation premium	24 heures	75-100 consultations spécialisées

Partenariats de recherche collaborative

Dyadic maintient des collaborations de recherche stratégique avec plusieurs établissements industriels et universitaires.

• Partenariats de recherche actifs: 12-15 collaborations simultanées
• Investissement annuel dans la recherche collaborative: 1,2 à 1,5 million de dollars
• Zones d'intervention: biopharmaceutiques, enzymes industrielles, biotechnologie agricole

Plateformes technologiques de licence

La société oblige sa plate-forme d'expression C1 propriétaire aux sociétés de biotechnologie et de pharmaceutique.

Catégorie de licence	Nombre de titulaires de licence	Revenus de licences moyennes
Licence exclusive	3-4 entreprises	500 000 $ - 750 000 $ par licence
Licence non exclusive	7-9 entreprises	150 000 $ - 300 000 $ par licence

Services de développement enzymatiques personnalisés

Dyadic propose des solutions d'ingénierie enzymatiques sur mesure pour des applications industrielles spécifiques.

• Projets de développement des enzymes personnalisés: 20-25 par an
• Durée moyenne du projet: 6 à 9 mois
• Gamme de valeur du projet: 250 000 $ - 1,5 million de dollars

Partage des connaissances scientifiques

L'entreprise participe activement à une diffusion scientifique des connaissances par le biais de canaux multiples.

Plateforme de partage des connaissances	Engagement annuel	Atteindre
Conférences scientifiques	6-8 présentations	Communauté internationale de biotechnologie
Publications évaluées par des pairs	4-6 articles de recherche	Revues scientifiques mondiales
Webinaires et ateliers	10-12 événements	300-500 participants par événement

Dyadic International, Inc. (Dyai) - Modèle commercial: canaux

Équipe de vente directe

En 2024, Dyadic International entretient une équipe de vente directe spécialisée axée sur les marchés de la biotechnologie et de la production enzymatique.

Métrique de l'équipe de vente	Valeur
Représentants des ventes totales	7
Couverture géographique	Amérique du Nord, Europe
Cycle de vente moyen	6-9 mois

Conférences scientifiques et événements de biotechnologie

Dyadic participe activement à des conférences spécifiques à l'industrie pour présenter ses plateformes technologiques.

• Conférences annuelles présentes: 4-5
• Événements clés: Bio International Convention, Congrès mondial sur la biotechnologie industrielle
• Budget de participation à l'événement moyen: 125 000 $ par an

Présentations techniques en ligne

Les plateformes numériques servent de canaux de communication critiques pour les démonstrations techniques.

Métrique de présentation en ligne	Valeur
Webinaires par an	8-10
Présistance au webinaire moyen	75-100 participants
Plateformes de présentation numérique	Zoom, YouTube, LinkedIn

Publications commerciales spécifiques à l'industrie

Dyadic exploite les publications techniques pour la communication technologique et la visibilité du marché.

• Publications par an: 3-4 articles techniques
• Journaux clés: biotechnologie et bio-ingénierie, enzyme et technologie microbienne
• Budget de publication annuelle: 50 000 $

Marketing numérique et communications de site Web

Les plateformes numériques fournissent une technologie complète et des informations d'entreprise.

Métrique du marketing numérique	Valeur
Site Web Visiteurs mensuels uniques	5,000-7,500
Abonnés des médias sociaux	LinkedIn: 3200
Budget annuel du marketing numérique	$175,000

Dyadic International, Inc. (Dyai) - Modèle d'entreprise: segments de clientèle

Fabricants pharmaceutiques

Dyadic International sert des fabricants pharmaceutiques à la recherche de technologies avancées d'expression et de production des protéines.

Type de client	Taille du marché potentiel	Application technologique
Fabricants de biologiques	332,8 milliards de dollars sur le marché mondial (2023)	Plateforme d'expression C1
Producteurs de vaccins	Marché vaccinal de 57,6 milliards de dollars	Production de protéines recombinantes

Entreprises de biotechnologie agricole

Dyadic fournit des solutions de production d'enzymes et de protéines pour les sociétés de biotechnologie agricole.

• Enzymes d'amélioration des cultures
• Ingénierie des protéines agricoles
• Développement biostimulant

Producteurs d'enzymes industriels

Marché enzymatique industriel servi par les technologies d'expression avancée de la protéine de Dyadic.

Catégorie enzymatique	Valeur marchande	Taux de croissance
Enzymes industrielles	6,9 milliards de dollars (2023)	5,2% CAGR

Établissements de recherche universitaire

Dyadic soutient la recherche académique à travers des plates-formes avancées de production de protéines.

• Expression de protéines de recherche
• Développement de technologies collaboratives
• Partenariats d'instruments scientifiques

Biofuel et développeurs d'énergies renouvelables

Enzyme Technologies soutenant les secteurs de la production de biocarburants et des énergies renouvelables.

Segment d'énergie renouvelable	Potentiel de marché	Pertinence technologique
Production d'enzyme biocarburant	Marché de 7,3 milliards de dollars (2023)	Développement de l'enzyme de la cellulase

Dyadic International, Inc. (Dyai) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Dyadic International a déclaré des dépenses de R&D totalisant 3 565 000 $, représentant un investissement important dans les technologies d'ingénierie enzymatiques et protéiques.

Exercice fiscal	Dépenses de R&D	Pourcentage du total des revenus
2023	$3,565,000	42.7%
2022	$3,412,000	40.5%

Maintenance de la propriété intellectuelle

Les coûts annuels de maintenance de la propriété intellectuelle pour Dyadic International étaient de 487 000 $ en 2023, couvrant le dépôt de brevets, le renouvellement et la protection juridique.

• Portefeuille de brevets: 27 brevets actifs
• Coût de maintenance des brevets moyen: 18 037 $ par brevet
• Couverture géographique: États-Unis, Europe et Asie

Équipement de laboratoire et infrastructure technologique

Les investissements sur l'infrastructure technologique et les équipements de laboratoire ont totalisé 1 245 000 $ en 2023.

Catégorie d'équipement	Montant d'investissement
Bioréacteurs	$425,000
Outils de séquençage génomique	$380,000
Systèmes de calcul	$440,000

Recrutement du personnel et des talents scientifiques

Les coûts totaux du personnel pour 2023 étaient de 6 215 000 $, avec une main-d'œuvre de 48 employés.

• Salaire moyen du personnel scientifique: 115 000 $
• Coûts de recrutement: 247 000 $
• Formation et développement des employés: 312 000 $

Conformité et certification réglementaires

Les dépenses de conformité réglementaire pour 2023 s'élevaient à 672 000 $.

Catégorie de conformité	Frais
Conformité de la FDA	$285,000
Certification ISO	$197,000
Audits externes	$190,000

Dyadic International, Inc. (Dyai) - Modèle d'entreprise: Strots de revenus

Frais de licence de technologie

En 2024, Dyadic International génère des frais de licence technologique à partir de sa plate-forme d'expression C1. Les revenus de licence pour 2023 étaient de 1 287 000 $.

Contrats de collaboration de recherche

Partenaire de collaboration	Valeur du contrat	Année
Biotech Research Inc.	$750,000	2023
Pharmaceutical Solutions LLC	$1,100,000	2023

Revenus du service de développement enzymatique

Enzyme Development Services a généré 2 345 000 $ de revenus pour l'exercice 2023.

Royalités de la propriété intellectuelle

• Revenu total de redevances IP: 456 000 $ en 2023
• Les sources de redevance comprennent des applications enzymatiques industrielles et biopharmaceutiques

Commercialisation de la plate-forme de biotechnologie

Les revenus de commercialisation de la plate-forme d'expression génique C1 pour 2023 étaient de 3 200 000 $.

Flux de revenus	2023 Montant	Pourcentage du total des revenus
Licence de technologie	$1,287,000	15.3%
Collaboration de recherche	$1,850,000	22.1%
Services de développement enzymatique	$2,345,000	28.0%
Redevances IP	$456,000	5.4%
Commercialisation de la plate-forme	$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.