Triton Algae Innovations, Ltd, a San Diego, CA-based developer of an algal platform for producing high value proteins and other biologics, completed a $5m Series A equity financing.
The round was led by Heliae Technology Holdings, Inc.
The company intends to use the capital to execute its research and development programs, expand its PhycoLogix™ platform, and commercialize its first product, PhycoShieldTM.
Founded by algae biotechnology developers Chief Executive Officer Jason Pyle, Chief Scientific Officer Stephen Mayfield, and algae biofuels company Sapphire Energy, Triton Algae Innovations has developed a synthetic biology platform for the production of high value proteins in algae. Its PhycoLogix™ platform uses algae to produce novel products such as complex proteins, enzymes, and other biologics with immediate applications in agricultural, pharmaceutical, and other retail markets.
The company’s first product is Mammary Associated Amyloid (MAA), a protein found in colostrum that stimulates production of a mucus coating in the digestive tract to prevent colonization of pathogenic bacteria that would result in the onset of diarrheal diseases. It will be commercially available in 2014.
Triton is also developing products for clinical oncology applications.