Dyadic International (NASDAQ:DYAI) said it is moving further into commercialization as it uses its proprietary gene expression technology to produce scalable, animal-free proteins across life sciences, food nutrition and bioindustrial markets.
During a Sidoti presentation, a company representative identified as Joe said Dyadic has shifted from being primarily a platform licensing company to a product-focused business. He said the company is now pursuing direct product sales, partnerships, licensing and profit-sharing arrangements, with an emphasis on recurring revenue from products used in manufacturing workflows.
Dyadic Highlights Product Launches and Partnerships
Dyadic said it has commercialized six products this year and is pursuing multiple products across multiple markets using the same scalable platform. Joe said the company’s commercial traction includes its partnership with Proliant Health & Biologicals, which launched AlbuFree DX, a recombinant human albumin made using Dyadic’s C1 gene expression platform, in March.
Joe said Proliant is one of the largest albumin providers globally and has a global distribution network. Dyadic expects profit-sharing revenue from the Proliant relationship and said Proliant plans to launch additional albumin-based products in the future.
The company also pointed to its DNase I product, which Joe described as Dyadic’s first company-owned product focused on the bulk supply market. Inzymes has launched chymosin, a food enzyme, after receiving a self-affirmed GRAS application, and Fermbox is working with Dyadic on DNase I and multiple proteins and enzymes in cell culture media and food nutrition.
Dyadic also said it has distribution arrangements, including with Integrated BioTherapeutics, to help bring products into research and development channels. Joe said the company recently shipped initial batches to IBT and is looking to expand product lines toward clinical-grade production over time.
Company Targets Three Markets With Two Platforms
Dyadic said its C1 platform is optimized for complex proteins used in life sciences, biopharma and therapeutics, including cell and gene therapies, monoclonal antibody production and vaccine antigens. Its Dapibus platform is aimed at cost-efficient production for markets such as food nutrition and bioindustrial applications, where high yields and lower costs are important.
Joe said the company is seeing demand for non-animal and non-plant-derived proteins and enzymes because of regulatory, supply chain, cost and sustainability factors. He said recombinant production using Dyadic’s systems can reduce risks associated with contaminants, viruses or other issues tied to animal- or plant-derived sources.
In life sciences, Dyadic’s portfolio includes albumin, transferrin, growth factors and DNase I. Joe said the company has early revenue from growth factors and transferrin, including initial purchase orders in cultivated meat applications. He described DNase I as a key reagent used to remove or manipulate DNA, including in cell and gene therapy and mRNA vaccine production.
In food and nutrition, Dyadic is working with BRIG Bio on alpha-lactalbumin and is developing lactoferrin, transferrin and growth factors for cultivated meat and other applications. Joe said chymosin is already on the market, and the company expects to begin sampling lactoferrin in the late second quarter or early third quarter.
In bioindustrial markets, Dyadic said its EN3ZYME product, co-marketed with Fermbox, is on the market and has fulfilled initial purchase orders. Joe said the company expects revenue from that agreement beginning in 2026.
Q&A Focuses on Revenue Scale, Capacity and Capital
During the question-and-answer session, a Sidoti analyst asked when Dyadic might report sales above $10 million. Joe did not provide a specific timeline, saying he did not have “a crystal ball.” He said the sales process for proteins and enzymes typically begins with small pilot orders before expanding into larger commercial orders once customers validate the product.
He cited EN3ZYME as an example, saying an initial purchase order of several metric tons was followed by an order of a couple thousand metric tons after use in application. In cultivated meat, he said initial orders may be in the tens to hundreds of grams, with potential to scale to kilograms or metric tons as customers commercialize. Food and nutrition pilot orders can begin at kilograms or small metric tons and potentially scale to hundreds of metric tons.
Joe said research-grade materials sold through arrangements such as the IBT partnership typically involve smaller volumes but higher margins because of quality requirements and qualifications.
Asked about manufacturing capacity, Joe said Dyadic has multiple contract development and manufacturing organization partners, including Fermbox for direct-sales products and some third-party partnerships. He said Dyadic also works with CDMOs in the European Union and the United States and is looking to expand that footprint.
On capitalization, Joe said Dyadic is building and scaling to demand rather than producing large inventories ahead of market uptake. He said the company would be opportunistic if financing were needed to accelerate growth but would evaluate any such decision based on the best interests of the company and shareholders.
Biopharma Partnerships Remain Part of Strategy
Dyadic said it is not walking away from biopharmaceutical partnerships but intends for those collaborations to be non-dilutive while maintaining focus on product launches and early commercial revenue. Joe said Dyadic is working with the Gates Foundation on monoclonal antibodies, with CEPI on efforts to speed vaccine production to under 100 days, and with the Foundation Biotecnopolo di Siena as part of the European Vaccine Hub.
Joe said the company’s near-term focus is launching products, expanding distribution and creating recurring revenue streams, while maintaining longer-term optionality in biotherapeutics.
About Dyadic International (NASDAQ:DYAI)
Dyadic International, Inc is a biotechnology company headquartered in Jupiter, Florida, that specializes in developing and commercializing its proprietary C1 fungal-based expression platform. The company’s core business revolves around enabling efficient, scalable production of proteins and enzymes for a wide range of applications, including biopharmaceuticals, industrial enzymes, agricultural bioactives and biofuels. By leveraging its C1 system, Dyadic seeks to offer clients cost-effective, high-yield manufacturing processes that can accelerate development timelines and reduce overall production costs.
The Dyadic C1 platform is designed to produce complex proteins five to ten times faster than traditional cell culture technologies, such as CHO cells or yeast.
