-- Completed Strategic Leadership and Operational Transformation from R&D to
Commercial Operations
-- Rebranded as Dyadic Applied BioSolutions to Reflect Our New Operational
Priorities
-- Full Redesign of Corporate Website to Prioritize Commercial Execution and
Long-term Value Creation
-- Completed $5.3 million Equity Offering to Strengthen Liquidity and Help
Fund Pipeline and Commercial Growth
-- Achieved Key Development and Commercial Milestones in Life Sciences and
Nutrition Markets
-- Advanced Multiple Recombinant Protein Programs Toward Commercialization
-- Cash, Cash Equivalents, Restricted Cash and Cash Equivalent, and
Investment Grade Securities of $7.3 million as of June 30, 2025;
Additional $5.3 million of Net Proceeds from the Equity Offering on
August 1, 2025
-- Dyadic to Host an Earnings Call at 5:00 pm ET
JUPITER, Fla., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Dyadic International, Inc. ("Dyadic", "we", "us", "our", or the "Company") (NASDAQ: DYAI), a global biotechnology company focused on the scalable production of high-value, precision engineered functional input proteins for non-therapeutic applications in life sciences, food and nutrition, and industrial biotechnology utilizing its proprietary gene expression platforms, today announced its financial results for the second quarter of 2025, highlighting recent company progress.
"Q2 marked a pivotal turning point in Dyadic's evolution as we advanced our transformation from a technology development organization to a market-facing, revenue-focused biotechnology company. Our rebranding to Dyadic Applied BioSolutions and strategic realignment have sparked renewed interest across our ecosystem -- from partners and customers to investors -- and reflect our commitment to commercial execution," said Joe Hazelton, President and COO. "We achieved critical milestones in our life sciences and nutrition pipelines, while our microbial production platforms continued to demonstrate the ability to disrupt the cost, speed, and scalability of protein production across life sciences, food, nutrition, and bio-industrial markets that are rapidly shifting toward non-animal sources. The recent capital raise should enable us to accelerate our shift from R&D-driven to commercially focused, and we are particularly excited about the anticipated upcoming launches of DNase I and recombinant human albumin through our partnership with Proliant Health and Biologics, the first of a potential series of product-driven revenue catalysts as we continue delivering on our mission to engineering proteins that power progress."
Recent Company Developments and Updates
Life Sciences
-- Non-Animal Cell Culture Media
-- Recombinant Serum Albumin: In partnership with Proliant Health and
Biologicals ("Proliant"), Dyadic is advancing toward an expected
commercial launch in 2025 of animal-free serum albumin for use in
cell culture, diagnostics and vaccine stabilization. Dyadic has
received $1.0 million in milestone payments to date, with
additional payments and royalties tied to commercial success.
Additionally, the Company anticipates achieving a third milestone
payment of $500,000 in Q3 2025 related to productivity
improvements and future revenue sharing payments for commercial
sales.
-- Recombinant Transferrin: Dyadic's animal-free transferrin has
demonstrated equivalent performance to leading recombinant
reference standards in cell proliferation testing. Designed as a
high-quality, cost-effective, non-animal alternative to
serum-derived transferrin, it targets applications in cell culture
media, diagnostics, research, and bioprocessing. Sampling and
validation for diagnostic and research use is actively underway in
Q3 2025.
-- Growth Factors: Dyadic's recombinant Fibroblast Growth Factor
$(FGF)$ has demonstrated comparable performance to reference
standards in supporting animal muscle cell growth. Efforts are
underway to improve productivity, with additional characterization
and validation ongoing. Sampling to cell culture, diagnostic and
research markets is underway.
-- Reagent Proteins & DNA/RNA Enzymes
-- DNase-1 (RNase-free): Dyadic's RNase-free DNase-1, developed for
use in molecular diagnostics, biopharma, and related applications,
is advancing toward commercial availability. Initial scale-up at
an European Contract Development and Manufacturing Organization
has been successful, with production validation and research-grade
material manufacturing underway. Sampling is active, with ongoing
discussions for potential partnerships and agreements across
multiple markets.
-- Expanded Nucleic Acid Enzymes Portfolio: Dyadic is developing and
validating prototypes for four additional enzymes, including RNase
Inhibitors and T7 RNA Polymerase, to support growing demand for
DNA/RNA manipulation tools. Initial quality and productivity
improvements have shown positive results, with further
optimization underway and results expected by late 2025 and into
2026.
Food and Nutrition
-- Non-animal Dairy Applications
-- Alpha-Lactalbumin: Dyadic is actively negotiating licensing and
supply agreements for its recombinant alpha-lactalbumin.
Characterization is ongoing, with sampling for the cell culture
research market expected in Q4 2025.
-- Human Lactoferrin: A stable cell line has been developed, with
continued optimization and characterization underway. Sampling for
research use is expected to begin in the second half of 2025.
-- Non-Animal Dairy Enzymes: Dyadic expects to receive a $250,000
milestone payment from Inzymes for productivity achievements.
Scale-up and commercialization efforts for the first enzyme are
progressing toward a late 2025 launch, with additional enzymes in
development under the existing license agreement.
BioPharmaceutical Programs
-- Gates Foundation Monoclonal Antibody Project: Achieved milestones in its
partnership with the Gates Foundation, resulting in a second installment
of $1.5 million in non-dilutive funding from a $3.0 million grant to
further develop low-cost monoclonal antibodies (mAbs) for diseases such
as malaria and RSV.
-- CEPI-FBS Grant: Dyadic's C1 platform is being advanced under a $4.5M
Coalition for Epidemic Preparedness Innovations ("CEPI") grant awarded to
Fondazione Biotecnopolo di Siena, with Dyadic eligible to receive up to
$2.4M as a subcontractor. The project supports antigen design, cell line
development, and cGMP scale-up for recombinant protein vaccines.
-- European Vaccines Hub: Dyadic participated in the inaugural EVH meeting,
a EUR170M EU-backed initiative led by Dr. Rino Rappuoli to establish a
centralized vaccine R&D and manufacturing hub. Dyadic's C1 platform is
among the technologies under evaluation for its potential to accelerate
and reduce the cost of vaccine and antibody production.
-- Uvax Bio Collaboration: CEPI awarded $2.6M to Uvax Bio, with a portion
allocated to MERS vaccine development and assessment of Dyadic's C1
platform for rapid, cost-effective vaccine manufacturing.
Bio Industrial Products
-- In partnership with Fermbox Bio, EN3ZYME$(TM)$ -- a Dyadic-produced enzyme cocktail for converting agri-residue into fermentable cellulosic sugars -- was launched using the Dapibus(TM) expression platform. Initial enzyme delivery has been completed following an initial Fermbox purchase order. Dyadic is expected to receive a 50/50 revenue profit share from commercial sales. -- Sampling efforts are currently underway, with ongoing negotiations in the biomass processing, biofuels, and pulp & paper markets to expand product adoption and explore additional enzyme opportunities under development.
Financial Highlights
Cash Position: As of June 30, 2025, cash, cash equivalents, restricted cash and cash equivalents, and the carrying value of investment-grade securities, including accrued interest, were approximately $7.3 million compared to $9.3 million as of December 31, 2024.
On August 1, 2025, the Company closed its public offering (the "Offering") of 6,052,000 shares of its common stock, par value $0.001 per share at a public offering price of $0.95 per share. The net proceeds to the Company from the Offering were approximately $5.3 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes, such as product development, sales and marketing.
Revenue: Total revenue for the three months ended June 30, 2025, increased to $967,000 compared to $386,000 for the same period a year ago. The increase was driven by the $250,000 milestone revenue upon the achievement of commercially viable target yield related to the Inzymes Agreement and grant revenue from the Gates Foundation and CEPI.
Cost of Revenue: Cost of research and development revenue and cost of grant revenue for the three months ended June 30, 2025, increased to approximately $614,000 compared to $302,000 for the same period a year ago. The increase was related to the cost of grant revenue from the Gates Foundation and CEPI.
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