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Synthetic Biology Firm Triton Algae Raises $5M in Series A Round

NEW YORK (GenomeWeb News) – Synthetic biology technology firm Triton Algae today announced it raised $5 million in a Series A equity financing round.

The investment made by Heliae Technology Holdings will go toward ongoing R&D at San Diego-based Triton, expansion of its PhycoLogix platform, and commercialization of its first product called PhycoShield.

PhycoLogix is for the production of proteins in algae. According to Triton, algae can produce compounds that other organisms can't, can be safely consumed without modification, and can be cultivated a large scale inexpensively. It added that it is producing complex proteins, enzymes, and other biologics that are cost-effective and can be applied immediately in agricultural, pharmaceutical, and other retail markets.

PhycoShield, a line of proteins, is the company's first product offering. The first PhycoShield product is Mammary Associated Amyloid, a protein found in colostrum that stimulates mucus production in the digestive tract, which prevents the colonization of pathogenic bacteria that can cause diarrhea-related diseases. MAA will be commercially available next year, Triton said.

The company also is developing products for clinical oncology applications, including therapies developed by the firm's scientific founder, Stephen Mayfield, who is Triton's chief scientific officer.

The firm's co-founder is Jason Pyle who serves as Triton's CEO and chairman.