Algal Scientific’s Breakthrough Animal-Health Discoveries Draw Investor Interest

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the efficacy of its process. That part of the business has since been revived and Horst says he expects to announce a deal regarding wastewater treatment within the next six months. “Essentially,” he says, “we have two separate technologies, and it just so happens that both are hitting on all cylinders.”

At the moment, Algal Scientific is focused almost exclusively on advancing the animal-health portion of its business, though within five years it expects to be producing beta glucan for humans, as well. The company recently moved to a new headquarters with room for its fermentation tanks, after being a tenant at the Michigan Life Science and Innovation Center, an incubator in Plymouth, MI, run by the Michigan Economic Development Corporation (MEDC).

Horst says the company’s long-term goal is to be acquired by a bigger company in the animal-health industry. In addition to the investment announced last week, Algal Scientific also counts the First Step Fund, the Michigan Pre-Seed Capital Fund, and the MEDC Follow-On Fund as investors.

“We’ve been very fortunate to be supported by state entrepreneurial programs—we’re grateful,” Horst says. “We’re very happy to be growing our company in Michigan.”

Sarah Schmid is the editor of Xconomy Detroit. You can reach her at 313-570-9823 or sschmid@xconomy.com. Follow @XconomyDET

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