South African biotech startup Immobazyme has significantly scaled its financial foundation by securing an additional R25 million ($1.45 million) in growth funding. This capital injection brings the company’s total funding raised to date to R50 million (approximately $2.9 million). The strategic investment is a vital step toward localizing supply chains within Africa’s pharmaceutical sector, which is currently vulnerable due to its heavy reliance on imported active pharmaceutical ingredients (APIs). The round was successfully led by the University Technology Fund (UTF II), with sustained participation from returning investor University of Stellenbosch Enterprises (USE), and the addition of new global strategic backer Fireball Capital.
Precision Fermentation: Scaling Local Capability
Immobazyme was co-founded in 2019 by scientists Dominic Nicholas, Ethan Hunter, and Nicholas Enslin as a spin-off from Stellenbosch University. The company’s core specialization is precision fermentation, a platform technology that programs microorganisms to efficiently design, optimize, and scale the production of complex proteins, known as biologics. These essential biologics—which include recombinant growth factors, peptides, and enzymes—are critical inputs for diverse high-value applications across industrial clients, the burgeoning cultivated meat industry, cosmetics, and, critically, high-value therapeutics.
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Infrastructure and Ambition: The primary use of the new funds is to complete a large, state-of-the-art 1,800m² facility in Cape Town. This integrated site is designed to house both a research and development laboratory and a fully compliant production cleanroom under one roof. This co-location is set to drastically accelerate the cycle from protein design to commercial manufacturing for both domestic and international partners.
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Cost-Effective Strategy: Immobazyme aims to transition its focus toward pharmaceutical-grade applications, building on its established revenue from industrial enzyme supply. CEO Dominic Nicholas confirms that the company’s proprietary platform significantly reduces the high costs traditionally associated with manufacturing biologics, thereby making local production economically viable in a price-sensitive African market.
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Ecosystem Impact: This investment and expansion reflect a post-pandemic shift among deep-tech investors toward backing infrastructure that promotes regional self-sufficiency. Immobazyme is now positioned to transform South Africa from a net importer of biologics to a potential regional production hub, reducing exposure to global supply shocks and creating skilled manufacturing jobs.
