Press release by TEDCO
Maryland-based company seeks to revolutionize green algae growth factors
TEDCO, Maryland’s economic engine for technology companies, announced a recent $200,000 Pre-Seed Builder Fund investment in Phycin, Inc. TEDCO’s Pre-Seed Builder Fund is housed under TEDCO’s Social Impact Funds which were created to engage and invest in economically underserved founders and communities.
“At Phycin, we are focused on revolutionizing growth factor production, allowing researchers to continue their efforts with an efficient and cost-effective alternative,” said Jun Wang, CEO of Phycin, Inc. “Thanks to TEDCO’s investment, we can continue our research and development and hopefully offer more affordable and efficient solutions for various industries.”
Phycin, Inc., located in Frederick, Md. at FITCI’s Maryland’s EDGE at 321 location, developed an innovative method for producing growth factors in green algae. This innovation supports the growing demands found in several industries, including regenerative medicine, cultivated meat, cosmetics and more.
Phycin’s algae-based cell growth factors deliver four distinct benefits for users:
• Affordable
• Toxin free; no bacteria, no endotoxins
• Higher biosafety; no human pathogens
• Highly active potency
“By developing a way to fill an existing gap in processes, Wang is embracing the essence of what it means to be an innovative entrepreneur,” said Jean-Luc Park, senior director of TEDCO’s Social Impact Funds. “Through TEDCO’s recent investment, we are developing the growing technology entrepreneur ecosystem in Maryland.”
Phycin has participated in several resources through TEDCO, including Prelude Pitch and the Network Advisor Program. As a part of TEDCO’s Builder Fund portfolio, Phycin will be provided with resources like hands-on executive support, peer-to-peer mentoring and collaboration, and networking opportunities. For information about TEDCO’s Builder Fund, visit https://www.tedcomd.com/funding/builder-fund.
For more information, visit our page at https://www.tedcomd.com/funding.
About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
About PHYCIN
Phycin, Inc. is a biotechnology company dedicated to leveraging the power of algae to revolutionize cell growth factor production. The growth factors derived from algae are efficient, cost-effective, and free of both pathogen risks and endotoxin contamination, ensuring utmost safety. With an ever-expanding catalogue of growth factors, Phycin is effectively addressing unmet needs across various industries.
