South African biotech startup Immobazyme has successfully secured an additional R25 million ($1.45 million) in growth funding, which doubles its total capital raised to date to R50 million (approximately $2.9 million). This significant investment is a direct response to the mounting pressure on Africa’s pharmaceutical sector to localize supply chains and reduce its heavy reliance on imported active pharmaceutical ingredients (APIs). The 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.
Precision Fermentation for Biologics
Founded in 2019 as a spin-off from Stellenbosch University by scientists Dominic Nicholas, Ethan Hunter, and Nicholas Enslin, Immobazyme specializes in precision fermentation. This platform technology involves engineering microorganisms to efficiently design, optimize, and scale the production of complex proteins, known as biologics. These biologics include recombinant growth factors, peptides, and enzymes—critical components for high-value applications across various sectors, including cultivated meat, cosmetics, research, and, most importantly, therapeutics.
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Strategic Shift: While Immobazyme has already generated revenue by supplying enzymes and growth factors to industrial clients, the new funding is strategically aimed at shifting focus toward higher-value pharmaceutical applications and advancing its proprietary therapeutics program.
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Infrastructure Goal: A major portion of the capital will be used to complete 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, accelerating the cycle from protein design to commercial-grade manufacturing.
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Cost-Effectiveness: CEO Dominic Nicholas emphasizes the company’s focus on cost-effectiveness. Immobazyme claims its platform significantly reduces the expense associated with producing biologics, making local manufacturing economically viable in a traditionally price-sensitive African market and addressing the import dependency exposed during the COVID-19 pandemic.
The investment reflects a growing trend among African deep-tech investors to back infrastructure initiatives that promote regional self-sufficiency, positioning Immobazyme to transition South Africa from a net importer of biologics to a key regional production hub.
