arXiv:2610.11059v1 Announce Type: new Abstract: In this paper, we propose a hybrid latent-space Bayesian Optimization (BO) and global optimization framework for solving symbolic regression tasks to discover dynamical models from data. Symbolic regression can discover equations from data without fixing the functional form of the expression a priori. The proposed framework uses the fact that if the functional form of the expression is fixed, the symbolic regression task reduces to a parameter estimation problem, which must be solved to global optimality. Motivated by this structure, first, we train a VAE to map the discrete space of expression trees into a continuous latent space. Then, we use BO to search this latent space while assessing a candidate expression's prediction error by solving the parameter estimation problem to global optimality. We evaluate our framework across two case studies: static reaction rate law discovery and dynamic concentration identification in a continuous stirred-tank reactor (CSTR). The results show that our framework identifies the true governing equations faster than MINLP formulations without solver timeouts and achieves higher sample efficiency than evolutionary baselines under tight evaluation budgets.