It is reported that this round of financing will accelerate Protoga Biotech pipeline development, scale-up mass production, application scenario development and domestic and overseas market expansion in the field of microalgae synthetic biology raw materials.
Today (August 16), Beijing Protoga Biotech Company Ltd. (hereinafter referred to as Protaga Biotech) announced that it has completed a round of financing of nearly RMB 100 million ($13.7 million). The financing was led by Hengxu Capital, followed by Houshi Investment and Yazhou Bay Venture Capital, and InvesTarget acted as the exclusive financial advisor for this round of financing.
It is reported that this round of financing will accelerate Protoga Biotech pipeline development, scale-up mass production, application scenario development and domestic and overseas market expansion in the field of microalgae synthetic biology raw materials.
Founded in 2021, Protoga Biotech is one of the few new-generation synthetic biology companies capable of mining and creating microalgae-based raw materials at the molecular level, and realizing large-scale mass production by industrialized methods. And microalgae-based belongs to a kind of bio-based, which can provide a variety of ingredients such as amino acids, algal polysaccharides, astaxanthin, SOD and so on.
Lu Yongtao, Chairman of Hengxu Capital, said, “Protoga Biotech team members have been deeply cultivating in the field of microalgae for decades, with fruitful research in microalgae cultivation, metabolism, genetics, synthetic biology as well as the development and utilization of microalgae biotechnology, and we look forward to the company, as a new star enterprise in microalgae synthetic biology, to bring more high-quality products to consumers. ”
Dr. Xiao Yibo, the founder of Protoga Biotech, said, “Protoga Biotech has completed the pilot level fermentation of several microalgae species and is about to enter the industrial production stage. The company has also laid out unique microalgae production models such as photosynthetic autotrophic and photosynthetic fermentation, which will play an important role in the multi-product matrix.”
