Biograil raised EUR 20 million in a financing round. Verve Ventures, Megatrend Invest, and HTGF participated. The Copenhagen-based company develops an oral device for therapeutics that would otherwise need injection.
Planned use of funds
The new capital will support preparations for Phase 1 clinical testing of BIONDD. Biograil will complete non-clinical GLP studies and establish a GMP manufacturing process. These milestones are planned before a larger financing round.
Investor history
HTGF first invested in Biograil in 2019 and led its seed syndicate. The investor joined the latest round through its Opportunity growth fund. Biograil's wider syndicate includes Eli Lilly and Co., Evonik Venture Capital, and Roquette Ventures.
How BIONDD works
BIONDD is a device inside a standard size double zero or single zero capsule. It delivers active therapeutics into the stomach mucosal wall. The technology can target current injectable medicines and new chemical entities that cannot be taken orally.
Biograil expects to complete these preparations before a larger financing in 2027. Non-dilutive funding from partnerships will support the same work. The company plans to use that backing to move BIONDD toward Phase 1 clinical studies.