Cyanobacteria produce a wide array of low molecular weight secondary metabolites with biological activity and as such they are recognized as an excellent source of novel pharmaceuticals. By screening cyanobacteria from our culture collection we are looking for antimicrobial, antiviral, cytotoxic, herbicidal, immunomodulatory, insecticidal and antioxidant activities. In addition, we are screening microalgae for their ability to accumulate lipids to be used as a potential source of biofuels.