-- 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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