Research fund to pioneer algae-derived growth factors

Funding Boost for Biotech Innovation

Phycin, Inc., a biotech startup led by Dr. Jun Wang, has announced a significant grant from the Maryland Stem Cell Research Fund (MSCRF), managed by TEDCO. This financial injection is part of a larger $4 million funding round distributed among several Maryland-based companies. Phycin’s allocation will accelerate the development and commercialization of their groundbreaking algae-derived growth factors.

Revolutionizing Growth Factor Production

These innovative growth factors, which are cost-effective and devoid of animal components and endotoxins, are poised to make a substantial impact in regenerative medicine and the burgeoning cultured meat industry. The MSCRF grant ensures the expansion of Phycin’s product offerings, marking a pivotal step in the company’s growth.

Strategic Location and Leadership Support

Phycin operates from the Frederick Innovative Technology Center, Inc. (FITCI) in Frederick, Maryland. FITCI CEO Kathie Callahan Brady has highlighted the importance of such funding for emerging biotech companies and commends the proactive stance of MSCRF and TEDCO.

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Photo by James Lee on Unsplash 

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