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Microalgae biotech startup raises additional $2.5 million

TransAlgae, an Israeli microalgae producer, which is developing algae-based oral vaccinations, has secured $2.5 million in funding from Gan Shmuel Foods.

TransAlgae has previously developed a number of oral vaccines, including one designed to protect shrimp from whitespot (WSSV)

Gan Shmuel Foods previously invested a total of $10.56 million in TransAlgae through a convertible loan that has already been converted.

TransAlgae has previously secured approximately $35 million and is currently is in a fundraising round for $27 million, led by KPMG.

TransAlgae’s patented algae-based oral delivery technology utilises microalgae both as a production site for the transferred sequence, and as a bio-encapsulated delivery vehicle for the transcripted expressed molecule.

In aquaculture, the technology has already been used to develop and deliver vaccines for white spot syndrome virus (WSSV) and yellow head virus (YHV) in shrimp, as well as for Iridovirus in seabass.

The company’s innovative technology is also used in the development of bioinsecticides. The technology enables successful and effective delivery of lethal peptides/proteins (toxins) for broad-spectrum insect killing or effective delivery of dsRNA molecules based on RNAi technology for selective bioinsecticides.