South Africa’s Immobazyme Raises $1.3M to Boost Production of Precision Fermentation-Derived Proteins – vegconomist

South Africa’s Immobazyme, a precision fermentation company spin-off from Stellenbosch University, has raised $1.3 million in a recent investment round led by the University Technology Fund (UTF) with the participation of Innovus (University of Stellenbosch Enterprises).

Immobazyme develops high-value proteins for various industries, including cultivated meat. The new capital will support the company’s production expansion, which includes doubling its current facility size and scaling its platform. This round brings its total raised capital to ZAR 24 million.

“We’re incredibly grateful to all our investors and partners for recognizing the value and impact of our work. Daniel S., Wayne Stocks, and the rest of the team at The University Technology Fund (UTF), having you in our corner has been paramount to our success. A big thank you to the team at Innovus Technology Transfer Office at Stellenbosch University (USE); we appreciate all the long hours and hard work it took to bring this deal to closure,” the company shared on social media.

Growth factors and enzymes

Dominic Nicholas (CEO), Ethan Hunter (COO), and Nick Enslin (CTO) founded Immobazyme in 2019 to “catalyze the future of global innovation with precision fermentation.” Using the yeast Pichia pastoris as biofactories, the company produces recombinant proteins for growth factors and enzymes.

Immobazyme says it has developed a modular protein expression system to produce a range of cost-effective and efficient growth factors for cellular agriculture, stem cell research, tissue engineering, and regenerative medicine, among others.

Additionally, the company has developed PepTrap, an enzyme immobilization platform that enhances their efficiency and stability, making it easier for industries to utilize them in their processes. Its flagship enzyme is dextranase for the sugar industry.

According to the biotech, dextranase is an enzyme that breaks down dextran gums, a common contaminant in the sugar industry produced by microorganisms in sugarcane and sugar beet. It efficiently targets the bonds in dextran polysaccharides, converting the contaminant into simple sugars, thus making production processes more efficient, reducing waste, lowering costs, and ensuring high-quality sugar production.

“Precision fermentation is transforming the industrial landscape, offering diverse applications across the food and biopharmaceutical industries. From crafting plant-based meat alternatives to developing essential drugs and vaccines, precision fermentation stands at the forefront of creating environmentally friendly and socially responsible products.”