Algaeventure Systems abandons biofuels, heads for biopharma

In Ohio, Marysville-based Algaeventure Systems is taking its algae biofuels plans and converting them to pharmaceutical plans after bringing on a heavy-weight researcher formerly from Pfizer to lead a funding round as its chief scientific officer.

The change has come as a result of changing markets and the ability of its technology to feed into the higher value pharmaceutical market rather than fuels.