PROGENESIS introduces NEW TECHNOLOGY TO CAZ
COMPANY FOUNDERS TO JOIN CAZ’S Biotechnology and Allied Sciences INCUBATOR
South Charleston, W.Va. – Representatives of Progenesis Technologies, LLC today introduced a new, ground-breaking technology to members of the Chemical Alliance Zone’s (CAZ) board of directors.
Progenesis founders Drs. Richard Niles and Hongwei Yu, two researchers at the Joan C. Edwards School of Medicine at Marshall University, talked with members of CAZ’s board about the company’s unique technology to produce alginate – a biopolymer that is traditionally harvested from seaweed and used in the production of beer, cosmetics and health care items. They also explained the alginate’s product applications and marketing opportunities.
According to Niles, Progenesis will be able to manufacture alginate through bacteria instead of harvesting it from its natural source, large brown seaweed. Ultimately, this will reduce the time and cost of producing the biopolymer and eliminates environmental damage that can be caused by the harvesting the seaweed for alginate.
“What we do is make certain mutations in their genome so that they begin to manufacture useful products for us,” said Yu. “In this case, we are producing alginate and we are producing it faster, cheaper and better for the environment than ever before. The prospects for both the technology and the product are very exciting.”
With a potential global market of $88 billion, this discovery also allows for production of new kinds of alginate, not naturally produced by seaweed, which can establish new market potential for the biopolymer in the future.
Niles and Yu have also signed a lease with the CAZ to secure space in group’s Biotechnology and Allied Sciences Incubation Center (BASIC) on the campus of the South Charleston Technology Park. CAZ’s BASIC offers the advantages of a multi-use site to its tenants. In addition to world-class transportation, communication and waste-treatment infrastructure, tenants have access to the substantial pilot-scale manufacturing facilities located on-site.
“We are tremendously excited to have Progenesis joining our biotechnology incubator,” said CAZ Executive Director Kevin DiGregorio. “The objective of our incubator is to facilitate growth in the early stages of research and technology development. So, Progenesis and BASIC are a perfect fit. The work they are doing is phenomenal and the potential is extraordinary.”
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Progenesis Technologies, LLC was founded in 2006 by Drs. Hongwei Yu and Richard Niles and is Marshall University’s latest spin-off company. Progenesis utilizes a patent-pending discovery made by Dr. Yu and his post-doctoral fellow, Dr. Dongru Qiu to produce alginate.
The Chemical Alliance Zone, Inc is a non-profit group of citizens, labor leaders, educators, government officials, chemical executives and business leaders committed to maintaining and expanding the presence of the chemical industry in West Virginia. For more information on the CAZ, visit cazwv.com.
Contact: Kevin DiGregorio
304-437-4295