Dyadic International (NASDAQ:DYAI) used a presentation at the Life Sciences Investor Forum to outline its shift from a research-and-development stage company toward a commercial business centered on selling and licensing recombinant proteins and enzymes. Joe Hazelton, the company’s president and chief operating officer, said the last three years have been focused on repositioning the business around products that can reach the market faster than human and animal therapeutics.
From platform story to product launches
Hazelton traced Dyadic’s background to its bioindustrial roots and the 2015 sale of that business to DuPont for about $75 million. After that deal, he said Dyadic began re-engineering its cell lines to produce higher-value human and animal therapeutic targets, but those opportunities carried long timelines and significant regulatory and clinical burdens.
He framed the current strategy as building a near-term revenue base from products Dyadic can manufacture and sell, while also pursuing licensing and partner-driven commercialization that can add additional revenue streams.
Two platforms: C1 and Dapibus
Dyadic described two platforms it uses across life sciences, food and nutrition, and bioindustrial markets:
- C1, positioned for more complex targets and described as validated in a Phase 1 human trial, which Hazelton said supports its use for both therapeutic and high-value non-therapeutic inputs.
- Dapibus, described as a “sister platform” engineered for higher-volume, lower-margin markets such as food, nutrition, and bioindustrial applications, where proteins may be less complex and production economics are critical.
Hazelton said both platforms have been engineered for speed, scale, and lower-cost production of recombinant proteins and enzymes. He also highlighted Dyadic’s ability to use genetic tools and licenses, including CRISPR, to manipulate strains and improve yields and development speed.
Commercial strategy: “buy, brand, and build”
Hazelton summarized Dyadic’s revenue approach as “buy, brand, and build.” Under this framework, customers can purchase products directly from Dyadic (including bulk, OEM, or white-label arrangements), license strains, or engage Dyadic in fully funded third-party development work to improve or manufacture proprietary proteins and enzymes.
He said Dyadic has expanded manufacturing capability through a partnership with Fermbox Bio, which he described as enabling better manufacturing scale and the ability to build inventory for market launches.
Life sciences focus: cell culture media inputs and molecular biology reagents
In life sciences, Dyadic is focusing on cell culture media components and DNA/RNA molecular biology reagents, positioning these as high-demand inputs for biologics manufacturing, cell and gene therapy, diagnostics, and related workflows.
Hazelton pointed to several commercial proof points and near-term launches:
- Proliant Health & Biologicals’ launch of AlbuFree DX: Hazelton said Proliant launched its first recombinant (non-animal) protein product in the first quarter of the year. Dyadic has received about $1.5 million in license and milestone fees and expects to begin receiving revenue benefits under a profit-sharing arrangement now that the product is on the market.
- Dyadic’s launch of DNase I: Hazelton said Dyadic launched DNase I “last week” and is accepting orders. He described DNase I as a high-demand enzyme used in DNA/RNA manufacturing workflows and even for equipment cleaning, with plans to expand into related products such as RNase inhibitors and DNA ligases.
- Growth factors: Hazelton said Dyadic began shipping product and received bulk purchase orders for growth factors in the fourth quarter of the prior year.
- Transferrin: He said Dyadic is preparing to launch human transferrin and bovine transferrin.
Hazelton also said Dyadic has expanded commercial reach in Asia through a partnership with Intralink and is seeing potential orders and feasibility studies as a result.
Food, nutrition, and bioindustrial partnerships
In food and nutrition, Hazelton said Dyadic is targeting non-animal dairy proteins and the cultured meat market, highlighting the need for high-volume, cost-effective production and noting the company has GRAS (generally recognized as safe) certification for food and feed applications. He discussed a partnership signed late last year with BRIG BIO to develop and commercialize bovine alpha-lactalbumin for non-animal dairy, including milestone opportunities and co-marketing rights.
He also said Dyadic has seen initial traction in cultured meat, citing first bulk orders for growth factors and a partnership with Opes Diagnostics, which sells cell culture media agents into the cultured meat segment. Hazelton said multiple companies are sampling and testing Dyadic’s products.
In addition, Hazelton highlighted partner Inzymes, which signed a development and commercialization agreement with Dyadic in 2023. He said Inzymes has launched bovine chymosin, used in cheesemaking, and that Dyadic received a milestone payment related to that launch. Hazelton said Dyadic has received almost $1.4 million in license and milestone fees from Inzymes to date, with revenue sharing expected as products gain traction.
In bioindustrial markets, Hazelton said Dyadic is focusing on cellulosic or biomass processing enzymes, leveraging its partnership with Fermbox Bio. He said Fermbox launched EN3ZYME, characterized as a cellulosic enzyme for biomass processing, and that Dyadic saw its first bulk order of cellulases last year. Hazelton said he expects revenues from that partnership in early 2026 and noted interest in expanding applications, including exploring alternative uses such as regenerative medicine.
During Q&A, Hazelton said CRISPR-enabled strain optimization is helping Dyadic improve yields and development speed, which he said can open new categories, particularly in DNA and RNA molecular biology reagents. He also argued that investors may be underestimating Dyadic’s longer-term earnings power, while acknowledging prior years of underperformance and the need to prove commercial execution. Addressing a question about what has changed since the post-DuPont strategy, Hazelton said Dyadic’s focus is now on generating its own product revenues rather than relying on large platform licensing deals.
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.
