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BioWorld Industrial Biotechnology StatReport: Immediate and Comprehensive Industry Information
Cyanotech Corp.
73-4460 Queen Kaahamanu Hwy., Suite 102
Kailua-Kona HI 96740, US
Phone: (808) 329-4677; Fax: (808) 329-4533
Toll-free phone: (800) 453-1187
Web: www.cyanotech.com
E-mail: info@cyanotech.com
KEY PERSONNEL: Gerald R. Cysewski; Chairman, President and CEO
William R. Maris; VP, Finance and CFO
Glenn Jenson; VP, Operations
Robert J. Capelli; VP, Sales
EMPLOYEES: 64 employees
HISTORY: Founded in 1983 by Gerald Cysewski (5% equity interest, 6/96)
Originally formed from merger of Altex Technology and White Mountain Inc.
FACILITIES: Algae production facility on 90-acre site in Kailua-Kona, Hawaii
STOCK-FINANCIAL HISTORY: NASDAQ--CYAN (Capital Market)
Follow-on public offering--1.5M shares at $7/share, $11.445M (3/96)
Net sales $11.131M (YE 06) compared to $8.951M (YE 05)
Net loss (YE 06) compared to (YE 05)
Loss per share (YE 06) compared to (YE 05)
Average shares outstanding 20.904M (YE 06) compared to 20.784M (YE
05)
Total assets $17.473M (YE 06) compared to $18.542M (YE 05)
PRIVATE PLACEMENTS: Spirulina Research Partners--RDLP for spirulina research--$635K (10/84)
$150K, 600K shares (11/83)
$276K, 920K shares (6/84)
$250K, 625K preferred shares (6/85)
$1.5M (7/86)
$2.35M, 235K shares (1/94)
$1.55M, convertible subordinated debentures and common stock (11/02)
PRINCIPAL INVESTORS: Continental Corp.--$500K, 1.25M preferred shares (1985); 292,430 shares
of common stock at $1/share (1986), $1.97M, 79shares of preferred stock
(2/90)
Cosmo Ventures--$1M, 750K shares (1985, 1986)
BUSINESS STRATEGY: Develop high-value products from microalgae
Establish retail marketing subsidiary
AGREEMENTS: Name Products Content of Agreement Date
Scripps Research Scripps' Aldolase licensing agreement 4/98
Institute
Catalytic Antibody 38C2
in microalgae
University of microalgae that is toxic licensing agreement 7/95
Memphis
to mosquito larvae
RESEARCH & DEVELOPMENT: Algal drying technique permitting dormancy
Pigments for cosmetics, fragrances, food coloring
Astaxanthin for aquaculture feeds
PRODUCTS ON MARKET: BioAstin® natural astaxanthin
Phycobiliproteins as fluorescent dyes for labeling MAbs in cell sorters and
assays
Spirulina Pacifica® protein supplement as food supplement
NatuRose® natural astaxanthin product
Genetic engineering of microalgae to produce transgenic protein
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