eXoZymes is a pre-revenue, development-stage biotech company building a cell-free biomanufacturing platform to produce specialty chemicals, targeting nutraceutical and pharmaceutical ingredients. The core technology uses AI-engineered enzymes — called "exozymes" — that operate outside living cells in bioreactors. Rather than reprogramming living organisms (the synthetic biology approach), eXoZymes extracts and stabilizes the relevant enzymes and runs multi-step chemical reactions in a controlled environment. The company argues this avoids the low yields and unpredictable scale-up that plagued cell-based synthetic biology peers. The lead program is NCT (N-trans-Caffeoyltyramine), a small molecule linked to fat oxidation and metabolic health that occurs only in trace quantities in nature. eXoZymes claims to produce NCT at greater than 99% yield and purity at pilot scale. NCT is being commercialized first as a nutraceutical ingredient through a subsidiary called NCTX, with a parallel pharmaceutical development path at an early stage. The company's business model is built around licensing, joint ventures, and spin-outs rather than direct manufacturing or distribution — eXoZymes contributes the biosolution while partners provide capital, market access, or manufacturing. Near-term revenue would come from R&D service fees and milestone payments; long-term revenue is expected from royalties and asset exits. The company has been funded primarily through grants, including from the DOE, NIH, Gates Foundation, and Shell, and will need to raise additional capital to execute its strategy.