Cellana and PhytoSmart Sign Definitive Merger Agreement
Combination Expected to Accelerate Commercialization of Sustainable Algae-Based Consumer Products
Strengthens the Foundation for Future Large-Scale Expansion for Alternative / Plant-Based Proteins and Bioenergy Applications
San Diego, California and Portland, Maine (October 28, 2024): Cellana, Inc. and PhytoSmart Inc., two pioneering leaders in algae-based products and biotechnology, are excited to announce that they have signed a definitive agreement to merge the two companies.
Upon closing of the merger, PhytoSmart will become a wholly owned subsidiary of Cellana. Deena Sisitsky, CEO of PhytoSmart, will join the Cellana Board of Directors and will lead the Consumer Products activities for the combined company under the PhytoSmart™ brand name.
The combined company will benefit from an expanding portfolio of commercial […]