Biotech company enters astaxanthin market with patented biosynthesis platform
Wednesday, January 20, 2021
Biomedican, a biotech company designing patented low-cost methods of growing high-value compounds at scale with proprietary yeasts, entered the astaxanthin market to diversify products outside of cannabinoids. This new development allows Biomedican's biosynthesis platform to target any high-value compound and significantly disrupt the current technologies.
Astaxanthin is a widely used, high-value compound known as a powerful antioxidant and anti-inflammatory. The astaxanthin market consists of three main segments: fish feed, animal feed and human consumption. Astaxanthin's value is growing astronomically. Its market was worth over $1 billion in 2019 and is projected to be worth $3.3 billion by 2027.
Biomedican developed a biosynthesis process that produces the purest form of astaxanthin, which is non-GMO and organic. This process is 90% less expensive than producing the chemical synthetic form of astaxanthin, which is being sold into the animal feed market. Chemical synthetics cannot be used for human consumption.
“We believe our high-quality, non-GMO, organic astaxanthin will significantly disrupt the animal feed and human consumption market,” said Biomedican CEO, Maxim Mikheev. “The large buyers for fish farms and cattle feed are currently using a chemical synthetic and desperately want to get out of the synthetic market. Our product offers them the ideal solution at the same price as they are paying for chemical synthetics.”
Biomedican has been able to produce astaxanthin in less than six months, which shows that it can biosynthesize high-value compounds quickly and still produce a high-quality, low-cost product. The company has significant interest from the largest buyers in the market and continues to build interest internationally.
“Our biosynthesis platform can target any compound that has a sizable market and significantly disrupt it,” stated Biomedican president, Dennis O'Neill. “We are doing bioavailability tests for the two largest buyers of astaxanthin in the world, and we expect to receive tens of millions of dollars in orders next year.”
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