Immobazyme, a biotechnology company specializing in enzyme immobilization and precision fermentation, has announced that it has secured $1.3 million (R24.5 million) in a recent funding round. The investment will be used to expand the company’s production capabilities and introduce its products to the global market.
The Stellenbosch-based company, founded in 2019 by a trio of visionary scientists, Dominic Nicholas, Ethan Hunter, and Nicholas Enslin, specializes in pioneering enzyme immobilization and precision fermentation technologies. Immobazyme has seen steady growth, developing a unique enzyme immobilization platform that enables the sustainable and efficient production of high-value proteins and enzymes. The company’s product range includes growth factors used in cell-cultured meat and enzymes like dextranase, which breaks down contaminants in sugar. Immobazyme has also recently ventured into the food and beverage industry, creating novel food ingredients using its precision fermentation platform.
This latest round of funding was co-led by the University Technology Fund (UTF) and the University of Stellenbosch Enterprises (USE). Wayne Stocks, a primary investor from the UTF, expressed his confidence in Immobazyme, stating that the company “personifies our vision to innovate for purpose and planet.”
Anita Nel, Chief Director of Innovation and Commercialisation at Stellenbosch University and CEO of USE, echoed this sentiment, highlighting the potential of university-developed technology.
Dominic Nicholas, CEO of Immobazyme, expressed his excitement about the funding, stating that it will enable the company to tackle real-world challenges and deliver economic, social, and environmental benefits. He emphasized the company’s immediate focus on scaling its facility and introducing its products to the global market.
Immobazyme’s innovative technology and ambitious plans for expansion have positioned it as a key player in the South African biotechnology sector. The company’s success highlights the growing potential of university-developed technology and the importance of sustainable and efficient production methods in the food and biotechnology industries.
With this new injection of funding, Immobazyme is well-positioned to continue its growth trajectory and make a significant impact on the global stage.
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