Immobazyme, a biotechnology start-up based in Stellenbosch, has announced a significant milestone with the securing of $1.3 million (R24.5m) in its latest funding round. Known for its enzyme immobilisation platform and precision fermentation technologies, Immobazyme plans to utilize this funding to expand its operations, including doubling the size of its facility and enhancing production capabilities.
Founded in 2019 by Dominic Nicholas, Ethan Hunter, and Nicholas Enslin, Immobazyme has shown continuous growth, recently inaugurating a state-of-the-art independent laboratory in 2023. The company’s innovative products include growth factors essential in cell-cultured meat production and enzymes such as dextranase, used to purify sugar by breaking down contaminants.
With a recent foray into the food and beverage industry, Immobazyme has introduced a range of novel food ingredients developed through its precision fermentation platform. This funding injection, co-led by the University Technology Fund (UTF) and University of Stellenbosch Enterprises (USE), marks a pivotal moment in the company’s journey.
Wayne Stocks of UTF, the primary investor, stated, “Immobazyme personifies our vision to innovate for purpose and planet. The company’s unique enzyme immobilisation platform is poised to revolutionize the biotechnology industry globally.” Anita Nel, CEO of USE, highlighted that investing in Immobazyme underscores the potential of local university technologies as a promising asset class.
Dominic Nicholas, CEO of Immobazyme, expressed his enthusiasm, stating, “We are positioned to address real-world challenges and deliver economic, social, and environmental benefits through our technology. With this funding, we can pursue larger, more ambitious goals, including scaling our operations to introduce our products to the global market.”
This investment underscores South Africa’s growing prominence in biotechnology and innovation, paving the way for Immobazyme to expand its impact globally. Congratulations to the team on this remarkable achievement!
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