The polymorphic fungus has been fractionated into mycelium and single cells at three points in the growth cycle approximately corresponding to early, middle and late exponential phases. The ability of cells to divert assimilated glucose to form the extracellular polysaccharide pullulan varies throughout the cycle; the spores are the major source of polysaccharide, although the hyphae are also capable of producing it. Thus, the commencement of pullulan excretion, which has been associated with blastospore production in the early phases of the growth cycle, probably arises through some stimulation concurrent with, though not necessarily identical to, the initiation of spore formation.


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