Story excerpt provided by Columbus Business First.
Written by Carrie Ghose.
A startup seeking potential new drugs within blooms of algae has raised $500,000 and is moving its headquarters to San Diego to take part in a business accelerator run by pharmaceutical giant Johnson & Johnson.
“We actually expect to continue to expand in Ohio,” founder and interim CEO Ross Youngs said, repeating his pledge made when he hinted at an upcoming move last month.
Dublin-based Biosortia Pharmaceuticals Inc. is keeping its operations facility on the west side of Columbus, where it maintains and improves the field equipment for harvesting algae. Youngs told me he’s also considering bringing in-house the research to isolate chemicals from the processed mats of algae, which has been outsourced to contract laboratories.
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Originally published December 31, 2015.