JERUSALEM, July 9 (Xinhua) -- Israeli biotechnology company Algatech, which grows and processes special species of microalgae, has developed a new product for the treatment of fatty liver disease, said a report on Monday.

According to the local financial daily Globes, the new product is based on the pigment fucoxanthin, which is found in high concentration in algae, and studies showed it has great efficacy in treating fatty liver.

The products will be distributed through food additives companies in the U.S. and Japan, and then expanded to other countries.

The company, founded in 1998, grows algae in greenhouses in southern region near the Dead Sea.