South African biotechnology start-up Immobazyme has secured $1,3 million (R24.5m) bringing its total investment raised to date to R24.5 million.
Founded in 2019 by Dominic Nicholas, Ethan Hunter, and Nicholas Enslin , Immobazyme is a South African biotechnology spin-out company of Stellenbosch University that utilizes precision fermentation to produce high-value active protein ingredients. 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.
Dominic Nicholas, CEO of Immobazyme, said: “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.”
Recently, the company ventured into the food and beverage industry, with a variety of novel food ingredients created using its precision fermentation platform.
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.”
Anita Nel, chief director of innovation and Commercialisation, Stellenbosch University; and CEO, USE said: “The investment in Immobazyme is another great case study demonstrating that local university technology is an overlooked but very promising asset class.”
The recent investment which is aimed to double the size of Immobazyme facility and expand its production capabilities was led by the University Technology Fund (UTF) and University of Stellenbosch Enterprises (USE).