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Algenetix Secures Series A VC Financing

Thursday, April 4, 2013 5:34:00 AM PDT | VentureDeal
   San Diego, California  --  Biotechnology company Algenetix has garnered $2 million in its first round of institutional venture capital investment.

Algenetix is developing single cell petrochemical alternatives using its proprietary PhotoSeed technology.

Two Oceans led the round, which included other investors.

The company said it would use the funding to develop renewable oils using its proprietary technologies.

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