This dissertation was written as a part of my MSc in Bioeconomy: Biotechnology and
Law at the International Hellenic University.
The first section of this study deals with the applications of microalgae in the
pharmaceutical sector. Eukaryotic microalgae are photoautotrophic micro-organisms
and constitute the foundation of most aquatic environments due to their rich
biodiversity and possibly high growth efficiency; nevertheless, they represent a vast and
underexplored bioresource. About the safety and the prevention of diseases,
microalgae have been reported as potential sources of new natural antimicrobials. Such
species develop various secondary bioactive metabolites with antibacterial activities
such as free saturated or unsaturated fatty acids, carbohydrates, proteins, and lipids,
and work is underway to find natural molecules to restrict the misuse of industrial
antibiotics. Therefore, microalgae consist of one major promising commercial
opportunity for these substances in the field of pharmaceuticals, antibiotics, anticancer,
antibacterial, antiviral, anti-fungal functions, and the treatment of other human
diseases.
The second part includes a SWOT analysis of a start-up pharmaceutical company using
microalgae, with emphasis on European regulations for new bioproducts, as well as
initiatives for public and private funding. The pharmaceutical industry has had an
accelerating rate of costs increase in new drug production while the number of new
drugs authorized and released in the market has been very small due to increased
public regulation. Partnership with the biotechnology industry is one of the key choices
to improve this situation. If the pharmaceutical industry succeeds in addressing the
issues responsible for high cost in the sector with a new marketing strategy, it might
prove very beneficial for both of them as a partner of the biotechnology industry.
Finally, this sustainable business model for a start-up pharmaceutical company is
recommended in accordance with European strategies for a sustainable Bioeconomy.
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