South African biotech startup Immobazyme has secured an additional R25m ($1.45m) in growth funding, bringing its total capital raised to date to R50m (approx. $2.9m).
This round was led by the University Technology Fund (UTF II), with participation from returning investor University of Stellenbosch Enterprises (USE) and new strategic backer Fireball Capital.
This investment comes at a time when Africa’s biotech sector faces growing pressure to localize supply chains. The continent currently relies heavily on imports for most of its pharmaceutical needs — including active pharmaceutical ingredients (APIs) — making it susceptible to global supply disruptions and currency fluctuations.
Immobazyme plans to use the new funds to complete a 1,800m² facility in Cape Town and to further develop its proprietary therapeutics program.
About Immobazyme
Founded in 2019 by scientists Dominic Nicholas, Ethan Hunter, and Nicholas Enslin, Immobazyme started as a spin-off from Stellenbosch University.
The company specializes in precision fermentation. Its platform technology enables the design, optimization, and scaling of biologics—specifically recombinant growth factors, peptides, and enzymes.
In simpler terms, Immobazyme engineers microorganisms to produce complex proteins. These biologics are vital components across various industries, including cultivated meat (food), cosmetics, research, and, most importantly, high-value therapeutics.
Though Immobazyme has already established revenue by supplying enzymes and growth factors to industrial clients, this new funding is aimed at expanding into higher-value pharmaceutical applications.
Market Context
The investment landscape for African biotech has evolved since the pandemic. After the logistical challenges faced during Covid-19, investors are increasingly focused on backing infrastructure initiatives that promote regional self-sufficiency.
Immobazyme’s CEO Dominic Nicholas emphasizes the company’s ambition to close the gap in local manufacturing.
“Our platform is already showing tangible results, and we’re nearing solutions for some of the most complex challenges in biologics,” said Nicholas.
The startup’s business model focuses on cost-effectiveness. Biologics are typically expensive to produce, often requiring large bioreactors and intricate purification methods. Immobazyme claims its platform reduces these costs, making local production viable in a price-sensitive market.
