This growth is an indicator that your water chemistry or quality is poor. The growth is not as dangerous to your fry as the conditions that caused this.
What are your tank parameters (ammonia, nitrites, nitrates, temp, pH)? Please give exact values.
How large is the tank? How long has the tank been set up?
What type of filtration are you using? Please give the name and number (i.e. Fluval 304) and amount of gph if known.
How many fish are in the tank? What kinds of fish are they and what are their current sizes?
When is the last time you did a water change and vacuum the gravel? How often do you do this? How much water do you remove at a time?
How long have you had the fish? If the fish is new, how did you acclimate it/them?
Have you added anything new to the tank--decor, new dechlorinator, new substrate, etc.?