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Business

Japanese biotech euglena hopes to flourish overseas

Producer of algae-based products looks to China, Southeast Asia to drive growth

  © Courtesy of Euglena

TOKYO -- Tokyo-based euglena, a biotech venture formed by the University of Tokyo is expanding overseas operations. The producer of algae-based products started selling supplements in Singapore and cosmetics in Macau last month.

At Wednesday's earnings briefing in Tokyo, President Mitsuru Izumo stressed that the company is steadily making progress to achieve its medium-term sales target of 30 billion yen ($270 million) for the year through September 2020.

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