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Scale up of bacterial alginate production has begun

We have conducted our first run in a bench-top bioreactor. Yields of alginate on a per liter basis were higher than expected. Further refinement of the environmental conditions will further increase the yields. The bacterial alginate is currently being characterized for chemical composition and physical properties. We are encouraged by this success and are confident that maximum yields together with a lower production cost will result in a product that can be competitively priced for applications in moisture control and food/cosmetic formulations. Progenesis is very appreciative for the help of Dr. Wang (see picture) a visiting scientist from China in setting up the bioreactor and monitoring its performance.

Progenesis to present business plans via webinar

Progenesis will present its business plans on a webinar organized by University Startups. On Thursday, August 14th, Progenesis will present via power point slides on the web and teleconference, its business plans to over 200 venture capital firms and potential business partners. This presentation is part of our continuing effort to publicize the company and to raise second round funding.

Progenesis presents at TechConnect Summit in Boston

Progenesis presented its business plans to the "invitation only" TechConnect Summit held at the Hynes-Convention Center in Boston, MA on June 3rd. The presentation to venture capital firms and potential business partners, was well received. Several inquiries were made about our business plans and funding needs. These will be pursued during the third quarter of 2008.

Progenesis awarded a grant from the NASA WV Space Grant Consortium

Our company in cooperation with Marshall University has been awarded a grant to study the production and uses of alginate for the NASA space program. This is part of a Joint University-Industry Research Opportunity program. This grant provides $20,000 to Marshall University for genetic engineering of bacteria to produce different types of alginate and then a $20,000 cost share by Progenesis to scale-up production and optimize down-stream processing of the bacterial alginate. Progenesis will also submit a Phase I SBIR grant to the National Science Foundation (December of ’08) on developing bacterial alginates for moisture control with applications to agriculture and other industrial processes.