The present invention relates to the field of purification of algal extracts, methods for their preparation, the unique composition of such purified extracts and their applications. A particular, detailed example of the invention is provided relating to phycobiliprotein compositions and methods for their preparation and in particular to phycobiliprotein compositions with unique molecular markers. The phycobiliprotein compositions are characterized by unique protein components as assayed by 2-D gel electrophoresis. The present invention encompasses oral, topical, mucosal, nasal, ophthalmological and other formulations containing the phycobiliprotein compositions, either alone or in combination with other active agents. The unique compositions may be used for a large range of applications including to treat a variety of diseases and conditions, as a food and beverage ingredient, nutraceutical ingredient and food colorant, and in agriculture, animal nutrition, bioremediation and cell culture. The invention can be used for the purification of extracts from a range of algae.