Wednesday, September 4, 2013

Triton Algae Innovations Snags $5M

San Diego-based Triton Algae Innovations, a new startup whose founders include the co-founders of Sapphire Energy, Dr. Steve Mayfield and Dr. Jason Pyle, is announcing today that it has raised $5M in a Series A funding round. The funding came from Heliae Technology Holdings. According to Triton Algae Innovations, the funding will go towards research and development programs and expansion and commercialization of its platform.

Triton Algae Innovations is using synthetic biology to create algae which can produce proteins used for the agricultural, pharmaceutical, and other retail markets. The firm's first product is Mammary Associated Amyloid (MAA), a protein that stimulates production of a coating in the digestive tract, used to treat diarrheal diseases. Both Mayfield and Pyle were founders of algae biofuels firm Sapphire Energy.

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