eXoZymes Inc. (Nasdaq: EXOZ) is a biotechnology company that has developed a new way to produce chemicals without using living cells. The company's technology, called "exozymes," combines enzymes (proteins that speed up chemical reactions) with artificial intelligence to create a manufacturing platform that transforms biomass into chemicals, medicines, and fuels. Unlike traditional synthetic biology that relies on living cells, eXoZymes' cell-free approach operates more like industrial chemistry, avoiding the common problems that prevent biological manufacturing from reaching commercial scale.
eXoZymes’ May 2026 Investor Presentation
The presentation highlights the company’s focused commercial strategy around nutraceuticals, pharmaceuticals, cannabinoids, and natural products, while emphasizing its capital-light business model built on spin-outs, joint ventures, and licensing partnerships. With growing external validation, including successful large-scale tech transfer results, eXoZymes positions itself at the forefront of the emerging cell-free biomanufacturing revolution.
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eXoZymes Inc. At A Glance
eXoZymes Inc. is a biotechnology company that has developed a cell-free biomanufacturing platform to produce chemicals, medicines, and fuels without using living cells. The company's technology combines artificial intelligence with enhanced enzymes (called "exozymes") that function in bioreactors to transform biomass into target chemicals. By removing cells from the manufacturing process, eXoZymes addresses the scaling bottleneck that has historically limited commercial success in synthetic biology. With approximately $14 million in U.S. government grants and a platform-of-platforms business model focused on licensing and partnerships, eXoZymes aims to enable sustainable, scalable alternatives to traditional petrochemical production methods.
eXoZymes' Platform Solves Industry Bottleneck
The company's technology addresses why most synthetic biology projects fail commercially. Traditional cell-based manufacturing faces three major problems: cells die from toxic chemicals, cells naturally resist producing unneeded chemicals, and extracting pure chemicals from cell mixtures costs more than the chemicals are worth. eXoZymes eliminates these issues by removing cells entirely from the equation, using engineered enzymes that work in bioreactors without cellular limitations.
$14 Million in Government Validation
eXoZymes has received approximately $14 million in U.S. government grants from agencies including the National Institutes of Health, Department of Energy, and Department of Defense. These grants have funded development across multiple applications including sustainable aviation fuel (isobutanol), cannabinoids, proteins, and other chemicals. Government funding provides both validation of the technology and non-dilutive capital for development.
Platform-of-Platforms Business Model
Rather than competing directly in chemical markets, eXoZymes licenses its technology to partners who handle production and commercialization. The company generates revenue through licensing fees, royalties (typically 1-8%), and sales of proprietary enzymes. This capital-light approach allows eXoZymes to address multiple markets simultaneously without the infrastructure costs of manufacturing facilities.
NCT: First Commercial Application
The company has developed a biosolution for N-trans-Caffeoyltyramine (NCT), a compound with pharmaceutical potential for treating fatty liver disease and inflammatory bowel disease. NCT has been validated in peer-reviewed studies as a potent HNF4a agonist and was shown to be non-toxic at the highest doses tested. This represents eXoZymes' first demonstration of producing a high-value pharmaceutical compound using its platform.
Sustainable Aviation Fuel Opportunity
eXoZymes is developing technology to produce isobutanol for use as sustainable aviation fuel (SAF), which reduces CO2 emissions by up to 80% compared to fossil fuels. The aviation fuel market is projected to grow from $220 billion in 2022 to $793 billion by 2030, with government mandates requiring 70% of EU airport fuel to be SAF by 2050. The company has received $5.7 million in Department of Energy and Department of Defense grants for this application.
Proprietary AI and Enzyme Engineering
The company combines proprietary enzyme engineering capabilities with artificial intelligence to design and optimize enzyme pathways. This includes over 10 patents and substantial trade secrets covering novel enzymes, cell-free manufacturing processes, and specific chemical products. The technology has been validated through publications in peer-reviewed journals including Nature Chemical Biology and Nature Communications.

eXoZymes Inc. (NASDAQ: EXOZ) CEO Michael Heltzen appeared on The Upside to discuss the company’s cell-free biomanufacturing platform, its focus on NCT, and the broader opportunity to apply AI-engineered enzymes outside the cell.
eXoZymes Inc. is a B2i Digital Featured Company. See the company’s profile at https://b2idigital.com/exozymes-1.
Asked about eXoZymes’ growth potential, Heltzen says the company is “here to make it really, really large” and describes the platform as “a new form of chemistry.”
In the full interview, Heltzen discusses NCT, a naturally occurring molecule found in black pepper, and explains how eXoZymes’ platform is designed to produce compounds at scale. He also describes the company’s dual-track opportunity: an over-the-counter nutraceutical path for natural NCT and a pharmaceutical path for more potent analogs.
eXoZymes is a Monrovia, California-based biotechnology company developing cell-free biomanufacturing technology that uses AI-engineered enzymes to transform sustainable feedstocks into high-value compounds. The company is currently focused on products including NCT, non-intoxicating cannabinoids, and other applications where its platform may offer advantages in speed, purity, and scalability.
Learn more at https://exozymes.com. For investor inquiries, visit https://exozymes.com/investor.
Disclosure: David Shapiro, Chief Executive Officer of B2i Digital, personally purchased in the open market and currently owns shares of unrestricted EXOZ stock, in line with B2i Digital’s practice of investing alongside its Featured Companies. This post is not intended to solicit the sale of EXOZ or any security, and it is not intended to offer any opinion on EXOZ as an investment. See the complete disclosure in the Risks and Disclosures section of https://b2idigital.com/disclaimer.
MillionFull is a technology for obtaining massive full-length enzyme sequence-to-performance datasets, capable of gathering millions of datapoints each run.
The development was motivated by the data drought holding back the exciting potential of AI for enzyme acceleration. The solution came together while I was working as a postdoc at DTU Biosustain. The dataset from the demo run, with >100,000 data points, was open-sourced half a year ago.
With the licensing agreement, we can now apply it to solve real-world problems in biomanufacturing.
Great thanks to Morten Birkeland, our IP advisor, for representing Enzidia in the licensing term discussions, so that we could get to a fair deal structure quickly with clear rationales. I got to learn so much by being the student in the process!
Many thanks to Jens Kindtler and other colleagues on the DTU side for a smooth agreement forming process. We got to see first-hand how DTU executes its mission of "technology for people & society" by supporting research translation.
Great appreciation to Dr. Lei Yang, Prof. Alex Toftgaard Nielsen for their support with scientific input and resources. This work would not have been possible without your recognition and support of new ideas.
Thanks to Bjarke Erichsen and Simon Richter Krarup for helping make the idea a reality.
Thanks to DTU Biosustain and Novo Nordisk Foundation for providing the breeding ground for innovation.
More acknowledgments can be found in our preprint.
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There's a second part to this post:
MillionFull is a foundational technology that serves as the crystallization core for much to build upon.
Our collaboration with the group of Nobel laureate Frances Arnold, a leading lab for integrating machine learning into enzyme engineering workflows, and eXoZymes (Nasdaq: EXOZ), a company with a highly efficient cell-free enzyme prototyping platform, is the prime example.
Based on the massive data enabled by MillionFull, and the cutting-edge ML algorithms developed by the Arnold group (Jason Yang, Sonia Yuan), we've been making exciting progress in the learn and design steps of the Design-Build-Test-(Data)-Learn cycle. ExoZymes' platform (Bastian Vögeli, Tyler Korman, Michael Heltzen) has allowed fast testing of the designed enzyme variants.
Special thanks to Sonia for leading this chapter of the development! Attached is her presenting our progress at the Generative and Experimental Perspectives for Biomolecular Design workshop (https://www.gembio.ai/), part of the ICLR conference at Rio de Janeiro in April.
Meanwhile, our open-sourced dataset has been downloaded ~750 times by the ML protein/enzyme engineering community! We don't know most of the developers, but we look forward with excitement to the fruits of the synergy between big datasets and the right ML approaches built for them.
"The scale-up problem in industrial biology isn't an engineering problem. Often, it's a biology problem. Cells are unpredictable by nature but eXoZymes eliminates that variable. When your chemistry runs outside the cell, you can engineer it like a real industrial process."
Full 'Grow Everything' podcast episode with eXoZymes (Nasdaq: EXOZ) CCO, Damien Perriman, available as both video and audio here:
https://lnkd.in/enmBHwSB
#exozymes #cellfree #biomanufacturing
"AI-Enabled Cell-Free Biomanufacturing and the Future of Enzyme Engineering"
Check out the full episode here:
https://lnkd.in/e4Pfs-Zh

eXoZymes Inc. is a B2i Digital Featured Company. See the company’s profile at b2idigital.com/exozymes-1.
Interview Highlights:
• 100x pilot-scale manufacturing campaign completed with Cayman Chemical, transferring the company’s process to Cayman’s operators and facility in Michigan
• 99% conversion of raw material to final product
• 99.6% purity achieved in the pilot run
• 12 months from initial development to 100x pilot scale
One of the highlights was joining a panel on cell-free biomanufacturing alongside Christopher Pirie (Decycle Bio), Neeka Mashouf (Rubi Laboratories), Paul Opgenorth (eXoZymes (Nasdaq: EXOZ)), and Alex Rosay (Cascade Bio).
The discussion reinforced something I believe strongly: biology is no longer limited to fermentation. Enzyme-based and cell-free manufacturing are becoming practical industrial tools, capable of making molecules that fermentation cannot reach economically, on timelines measured in weeks rather than years.
For Enzymit, this is exactly the direction we are building toward: a new manufacturing layer that turns abundant carbon feedstocks into the molecules society depends on, across specialty ingredients, materials, fuels, and medicines.
Thank you to Brandon Simmons-Rawls and the BioMADE team for creating space for this conversation and for bringing together such a thoughtful community around the future of biomanufacturing.
If you are working on cell-free systems, enzyme-based production, or new ways to manufacture molecules with biology, I would be happy to connect.
#BioMADE #Biomanufacturing #SyntheticBiology #CellFree #Enzymes #Biocatalysis

eXoZymes Inc. is a B2i Digital Featured Company. See the company’s profile at b2idigital.com/exozymes-1.
Interview Highlights:
• 100x pilot-scale manufacturing campaign completed with Cayman Chemical, transferring the company’s process to Cayman’s operators and facility in Michigan
• 99% conversion of raw material to final product
• 99.6% purity achieved in the pilot run
• 12 months from initial development to 100x pilot scale
Perriman also discussed plans for additional human use studies on NCT, completion of the company’s GRAS dossier, potential partnerships with marketing players to bring NCT to market, and ongoing work to modify enzymes to create NCT analogues for pharmaceutical applications. He noted that Santalene is already under development as the next product in the company’s pipeline.
“We’ve shown that we can go from idea to 100× pilot scale in 12 months — and hit it right the first time. That kind of speed and predictability is exactly what this industry has been missing, and it’s what turns a single success into a repeatable value engine,” said Damien Perriman, Chief Commercial Officer of eXoZymes.
Watch the Nasdaq interview: https://exozymes.twentythree.com/nasdaq-damien-perriman-interview-on
Read the company’s post: https://exozymes.com/blog/perriman-nasdaq-2026
About eXoZymes: eXoZymes is a Los Angeles, California-based biotechnology company pioneering cell-free biomanufacturing through AI-engineered enzymes that transform sustainable feedstock into nutraceuticals, medicines, and essential chemicals. The company’s proprietary exozyme platform offers a scalable alternative to traditional petrochemical and cell-based production methods, with technology validated through publications in Nature Communications and Nature Chemical Biology.
eXoZymes is led by an experienced management team including Michael Heltzen, CEO; Damien Perriman, CCO; Dr. Tyler Korman, CSO and Co-founder; Dr. Paul Opgenorth, VP of Development and Co-founder; Fouad Nawaz, VP of Finance; Lasse H. Görlitz, VP of Communications; and Amy Lunzer, Chief of Staff.
To learn more about eXoZymes, visit exozymes.com. For investor inquiries, visit exozymes.com/investor.
Discover more emerging growth Featured Companies, industry-leading Featured Experts, and upcoming Featured Conferences at https://b2idigital.com.
Disclosure: David Shapiro, Chief Executive Officer of B2i Digital, personally purchased in the open market and currently owns shares of unrestricted EXOZ stock, in line with B2i Digital’s practice of investing alongside its Featured Companies. See the complete Disclosure at https://b2idigital.com/disclaimer. B2i Digital is not a broker-dealer or investment adviser.

eXoZymes Inc. (NASDAQ: EXOZ) CEO Michael Heltzen appeared on The Upside to discuss the company’s cell-free biomanufacturing platform, its focus on NCT, and the broader opportunity to apply AI-engineered enzymes outside the cell.
eXoZymes Inc. is a B2i Digital Featured Company. See the company’s profile at https://b2idigital.com/exozymes-1.
Asked about eXoZymes’ growth potential, Heltzen says the company is “here to make it really, really large” and describes the platform as “a new form of chemistry.”
In the full interview, Heltzen discusses NCT, a naturally occurring molecule found in black pepper, and explains how eXoZymes’ platform is designed to produce compounds at scale. He also describes the company’s dual-track opportunity: an over-the-counter nutraceutical path for natural NCT and a pharmaceutical path for more potent analogs.
eXoZymes is a Monrovia, California-based biotechnology company developing cell-free biomanufacturing technology that uses AI-engineered enzymes to transform sustainable feedstocks into high-value compounds. The company is currently focused on products including NCT, non-intoxicating cannabinoids, and other applications where its platform may offer advantages in speed, purity, and scalability.
Learn more at https://exozymes.com. For investor inquiries, visit https://exozymes.com/investor.
Disclosure: David Shapiro, Chief Executive Officer of B2i Digital, personally purchased in the open market and currently owns shares of unrestricted EXOZ stock, in line with B2i Digital’s practice of investing alongside its Featured Companies. This post is not intended to solicit the sale of EXOZ or any security, and it is not intended to offer any opinion on EXOZ as an investment. See the complete disclosure in the Risks and Disclosures section of https://b2idigital.com/disclaimer.
Important Resources
Including an At-A-Glance PDF, a document tailored to those who just want quick and summarized information.
eXoZymes Inc. management brings together biotechnology and commercial expertise.
The team combines scientific leadership from UCLA with business executives experienced in scaling technology companies, leveraging deep knowledge in enzyme engineering, artificial intelligence, and biomanufacturing to develop and commercialize cell-free production solutions for partners worldwide
The eXoZymes Inc. executive leadership regularly updates investors with company news. Please fill out this form to receive the latest information.
Note: The company can only disclose information that is shared in the public domain through press releases, SEC filings, and other public forums. As securities law and industry regulations require, such information will always be shared with all investors simultaneously.

