Frederick biotech startup gets $400K to commercialize algae proteins

Nov. 6—Frederick County biotechnology startup Phycin has received $400,000 from the Maryland Stem Cell Research Fund to help develop and commercialize the use of algae proteins in medical care and the food market.

The Maryland Stem Cell Research Fund, managed by the Maryland Technology Development Corp., distributed $4 million among 12 scientists from Maryland companies and research institutions to further their research.

Jun Wang, Phycin's CEO and founder, was one of three scientists awarded money in the commercialization category.

He founded Phycin 10 years ago in the Frederick Innovative Technology Center Inc. or FITCI.

"We are in the transition from technology ... to commercialization for a startup. I think the government support is very important to prepare us for the real commercialization effort," Wang said in an interview.

Phycin researches the uses of algae proteins — which the stem-cell industry calls growth factors — for wound management therapy, regenerative medicine and the cultivated meats industry.

Using animal proteins or bacteria proteins, like from E. Coli, is more popular, but Phycin works specifically with an algae called Chlamydomonas reinhardtii.

With this algae, Phycin researches the use of algae proteins to help with corneal injuries in the eye.

The proteins could also be used to treat conditions like diabetic ulcers, Wang said.

It's additionally being used as an alternative for cultivated meat and seafood industries.

In all of these sectors, Phycin's algae proteins are more sustainable, more affordable and safer than its bacterial and mammalian protein counterparts, he said.

Algae proteins don't come with the pathogen risks that come from animal proteins, for example, Wang said.

The proteins can also be used to make different kinds of meat, like beef, pork, chicken or seafood.

Phycin calls the use of non-animal cells to grow real animal meat "clean meat."

The proteins can cost over $1 million per gram, Wang said. That price tag is a major hurdle in the advancement of regenerative medicine and cultivated meat industry.

While Phycin doesn't publicize its production cost, Wang said, algae proteins are a fraction of that cost.

The grant money is crucial for helping Phycin advance to commercialization, Wang said.

Its clients include anybody who is growing stem cells, he said, such as people in academia, researchers and stem-cell manufacturing companies.

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