South African biotech company Immobazyme has secured R25 million (around $1.5 million) in a funding round led by the University Technology Fund (UTF II), with participation from Fireball Capital and University of Stellenbosch Enterprises (USE).
The capital takes the total amount raised by Immobazyme to R50 million (around $2.9 million), following a previous raise last year. It will be used to accelerate the expansion of the company’s proprietary biologics platform, which is based on precision fermentation, and advance its therapeutics program.
Additionally, the funding will support the development of a new 1,800 m² facility in Cape Town, which will feature a state-of-the-art R&D laboratory and a fully compliant production cleanroom. This will serve domestic and international partners pursuing high-value, affordable biologics.
Solving tough challenges in biologics
Immobazyme was founded in 2019 and develops technologies for the efficient design, optimisation, and scale-up of solutions such as recombinant growth factors, peptides, and enzymes. The demand for accessible biologics is reportedly on the rise, and the company aims to meet this while reducing Africa’s dependence on imported pharmaceuticals.
Over the next year, Immobazyme plans to expand its team and product portfolio. The company says its platform now underpins products and partnerships across multiple sectors, and is driving strong year-on-year revenue growth.
“This raise reflects the hard work of our exceptional team and the strength of our technology,” said Dominic Nicholas, CEO of Immobazyme. “Our platform is already delivering measurable impact, and we’re closing in on solutions for some of the toughest challenges in biologics. We’re deeply grateful for the continued support of UTF II and USE, and excited to welcome Fireball Capital as a shareholder and strategic global partner.”
