Introduction

Stellenbosch-based biotechnology startup Immobazyme has successfully closed its latest funding round, bringing its total investment to R24.5 million. This new capital injection will allow the company to expand its facilities and enhance its production capabilities, positioning it at the forefront of South Africa’s biotech industry.

Founding and Growth

Founded in 2019, Immobazyme has shown consistent year-on-year growth. Last year marked a significant milestone with the opening of its state-of-the-art independent laboratory. Supported by an expanded research team, this development has furthered the company's mission to provide sustainable and affordable biologics to the global market.

Specialization and Products

Immobazyme specializes in a novel enzyme immobilization platform and precision fermentation, utilizing microorganisms to produce high-value proteins and enzymes. Its product range includes growth factors essential for cell-cultured meat and enzymes like dextranase, used to break down contaminants in sugar.

Expansion into New Industries

Recently, Immobazyme has ventured into the food and beverage industry, introducing a variety of novel food ingredients developed using their precision fermentation platform.

Funding and Investment

The latest funding round, led by the University Technology Fund (UTF) and University of Stellenbosch Enterprises (USE), has been crucial for Immobazyme's growth.

Investor Support and Vision

Wayne Stocks, the primary investor from UTF, stated, “Immobazyme personifies our vision to innovate for purpose and planet. UTF actively identifies global game-changing companies to invest in. The company’s enzyme immobilization platform is unique to the biotechnology industry, and we support their ambitions for sustainable solutions.”

Anita Nel, Stellenbosch University innovation and commercialization director and USE CEO, added, “The investment in Immobazyme is another great case study demonstrating that local university technology is an overlooked but very promising asset class. Immobazyme’s success is also a great example of the fast growth in the Stellenbosch University group of companies, which currently boasts nearly 30 spinout companies.”

CEO’s Perspective

Immobazyme CEO and co-founder Dominic Nicholas expressed gratitude towards their investors and partners, saying, “We are incredibly grateful to all our investors and partners for recognizing the value and impact of our work. We are poised to tackle real-world challenges, delivering economic, social, and environmental benefits to the private sector through our technology.”

Scaling Up

With the new funding, Immobazyme plans to scale its facility and introduce its products to the global market. Nicholas highlighted their ambitious goals, stating, “Our immediate focus is on scaling our facility to introduce our products to the global market.”