Cleveland, Ohio-based Algisys, a biotech company producing omega-3 fatty acids from micro-algae for heart and joint health, has announced raising over $6M for the commercial scale up of its algal technology. The company has been developing its technology and scale-up work through collaborations with several partners including MBI (Michigan Biotechnology Institute) and European-based research facilities. “By using the company’s core expertise, these collaborators are helping to accelerate efforts necessary for commercialization of the company’s technology,” said Michael LoPresti, Algisys CEO and Co-Founder.
“Using a non-GMO fermentation-based approach to producing EPA-rich oil has enormous potential human health benefits,” said MBI’s Dr. James Wynn, who is leading the commercial development work. “AlgiSys provides high levels of sterility and process control, which will produce a purer and more consistent algae product. It is MBI’s mission to help nascent technologies such as this to make the successful transition from promising laboratory finding to a world-changing commercial technology.”