South African biotech innovator Immobazyme has successfully secured R25 million ($1.46 million) in a new growth funding round, doubling its total capital raised to R50 million ($2.9 million). The investment was led by the University Technology Fund (UTF II) with participation from University of Stellenbosch Enterprises and new strategic backer Fireball Capital. This infusion of capital is set to accelerate the company's mission to establish a robust local manufacturing base for essential biologics.
Pioneering Precision Fermentation
Founded in 2019 by a team of scientists from Stellenbosch University, Immobazyme specializes in advanced precision fermentation technology. Its platform enables the efficient design, optimization, and scaling of biologics by engineering microorganisms to produce complex proteins like enzymes and growth factors. While already generating revenue from industrial clients in sectors like cultivated meat, the firm is now strategically pivoting towards higher-value pharmaceutical applications.
Addressing a Critical Supply Chain Gap
The investment arrives at a crucial time, as Africa seeks to reduce its heavy reliance on imported pharmaceuticals and active pharmaceutical ingredients (APIs). Global supply chain disruptions, starkly highlighted during the recent pandemic, have underscored the urgent need for regional self-sufficiency and resilience. Immobazyme's cost-effective production model is strategically positioned to make local manufacturing economically viable in a traditionally price-sensitive market.
Fueling Expansion and Innovation
A significant portion of the new capital is earmarked for completing a state-of-the-art 1,800m² facility in Cape Town. This integrated site will uniquely house both a research and development laboratory and a fully compliant production cleanroom under one roof. This co-location is designed to significantly accelerate the cycle from protein design to commercial-grade manufacturing for both domestic and international partners.
A Vision for Growth and Global Impact
CEO Dominic Nicholas emphasized that the funding reflects the team's hard work and the platform's measurable impact on solving complex biologic challenges. "Our platform is already delivering measurable impact, and we’re closing in on solutions for some of the toughest challenges in biologics," he stated. The company's immediate roadmap includes expanding its specialized team and scaling production capacity to meet growing international demand.
The investor syndicate provides a powerful blend of deep-tech university backing and strategic venture capital. Paula Mokwena, CEO of new investor Fireball Capital, underscored this confidence, noting the platform's combination of "scientific rigor with scalability." This strategic partnership is expected to provide crucial guidance as Immobazyme navigates its next phase of commercial growth and global expansion.
The Road Ahead
Over the next twelve months, Immobazyme will focus on several key milestones to leverage the new investment effectively. The company plans to hire specialized talent to staff its new facility, significantly increase its production volumes, and advance its internal drug development programs closer to clinical viability. These steps are critical for cementing its position as a reliable node in the global therapeutics value chain.
This $1.4 million investment is more than just a financial boost; it is a pivotal step towards transforming South Africa's biotech landscape. By scaling its innovative platform and expanding its physical infrastructure, Immobazyme is poised to reduce the continent's import dependency. The company is now on a clear trajectory to transition the nation from a net importer of biologics to a key regional production hub.