TransAlgae Raises an Additional $2.5M From Gan Shmuel Foods For Algae-Based Oral Vaccination Solution
This investment decision by Gan Shmuel Foods provides a strong vote of confidence in both TransAlgae's disruptive microalgae-based oral delivery technology and its management leadership team.
Rehovot, Israel - TransAlgae has just announced that Gan Shmuel Foods Ltd. (TASE: GSFI) has decided to exercise an additional investment for $2.5 M (USD) in the company.
Gan Shmuel Foods previously invested a total of $10.56 M in TransAlgae through a convertible loan that has already been converted. This additional investment decision by Gan Shmuel Foods provides a strong vote of confidence in both TransAlgae's disruptive microalgae-based oral delivery technology and its management leadership following TransAlgae's business progression.
Hitherto TransAlgae was invested with approximately $35 M (USD) and currently is in a fundraising round for $27 M (USD) globally led by KPMG."
TransAlgae is an innovative Israeli biotech company that developed a revolutionary, proven and patented algae-based oral delivery technology. The technology utilizes microalgae for two important purposes; As a production site for the transferred sequence as well as a bio encapsulated delivery vehicle for the transcripted expressed molecule.
The company's innovative technology is 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.
The oral delivery technology of TransAlgae is also in use in the animal health sector, as vaccines and therapeutic products through oral delivery. The emergence of new delivery technologies such as TransALgae's oral delivery platform may greatly reduce the dependence on injectable delivery.
According to Mr. Eyal Ronen, vice president of business development at TransAlgae, their delivery platform for crop protection enables a successful use of the RNA class of pesticides, RNA interference (RNAi). RNAi promises advantages as a pesticide class: it is effective, efficient, and can be designed to target a specific pest. The RNAi approach is poised to become one such important tool in the world of pesticides and provide farmers with attractive choices for their integrated pest management strategies.
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