IMMOBAZYME, a pioneering biotechnology start-up from Stellenbosch, has successfully secured its latest round of funding, bringing its total investment raised to R24,5-million.
Rapidly gaining prominence for its novel enzyme immobilisation platform and work with precision fermentation, this injection of capital will significantly support its expansion.
The company plans to double the size of its facility and dramatically scale its production capabilities, positioning itself at the forefront of South Africa’s biotech industry.
Since its founding in 2019 by Dominic Nicholas, Ethan Hunter, and Nicholas Enslin, Immobazyme has seen impressive year-on-year growth, culminating in the opening of their state-of-the-art independent laboratory in 2023.
This major infrastructure milestone, supported by the doubling of their research team, brought Immobazyme one step closer to its overarching goal of providing sustainable and affordable biologics to the global market.
Utilising precision fermentation, Immobazyme manipulates microorganisms to cultivate high-value proteins and enzymes.
Its products range from growth factors, a primary ingredient in cell-cultured meat, to enzymes like dextranase, which is used to break down contaminants in sugar.
The Immobazyme team has even recently ventured into the food and beverage industry with a variety of novel food ingredients created using their precision fermentation platform.
The most recent co-investment was led by the University Technology Fund (UTF) and University of Stellenbosch Enterprises.
Commenting on the bright prospects ahead, primary investor Wayne Stocks of the UTF said, “Immobazyme personifies our vision to innovate for purpose and planet. The University Technology Fund actively identifies global game-changing companies to invest in. The company’s enzyme immobilisation platform is unique to the biotechnology industry. This excites us to support their ambitions for sustainable solutions.”
Anita Nel, chief director of Innovation and Commercialisation of Stellenbosch University and CEO of University of Stellenbosch Enterprises, the university’s holding company, explains, “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.”
Dominic Nicholas, CEO of Immobazyme, expressed his gratitude in achieving this milestone, stating, “We’re incredibly grateful to all our investors and partners for recognising 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. With this funding, we can now set our sights on bigger, more ambitious goals. Our immediate focus is on scaling our facility to introduce our products to the global market.”
