South African biotech company Immobazyme has raised $2.9 million in funding to expand its precision fermentation-based biologics platform. The funding, led by the University Technology Fund (UTF II) and including participation from Fireball Capital and University of Stellenbosch Enterprises (USE), will support the development of a new facility in Cape Town and the advancement of the company’s therapeutics program. Immobazyme, founded in 2019, aims to meet the rising demand for accessible biologics while reducing Africa’s dependence on imported pharmaceuticals.

Immobazyme develops technologies for designing, optimizing, and scaling solutions such as recombinant growth factors, peptides, and enzymes. The company plans to expand its team and product portfolio over the next year, with its platform already underpinning products and partnerships across multiple sectors. CEO Dominic Nicholas expressed gratitude for the continued support of their investors and shared excitement for the opportunities ahead in addressing tough challenges in the biologics industry.