South African biotech rising star Immobazyme has raised an additional R25 million ($1.46 million) in fresh funding, doubling its total capital secured to R50 million ($2.9 million) and signalling its transition from a high-potential university spin-out into one of Africa’s most commercially advanced biologics manufacturers. The round was led by the University Technology Fund (UTF II) with participation from University of Stellenbosch Enterprises (USE) and new investor Fireball Capital, whose entry adds both strategic weight and global ambition to the company’s next chapter.
Founded in 2019 by three Stellenbosch University PhD graduates — Dominic Nicholas (CEO), Nick Enslin (CTO), and Ethan Hunter (COO) — Immobazyme emerged from academic enzyme engineering research with a bold goal: harness precision fermentation to build scalable, affordable, and regionally relevant biologics. The company began modestly with free lab space from the Institute of Plant Biotechnology but quickly expanded, securing ISO 9001:2015 certification, ramping up production, and generating steady year-on-year revenue through industrial partnerships across food, cosmetics, cultivated meat, and research biotechnology.
Scaling Precision Fermentation for Africa’s Bioeconomy
The company’s core strength lies in its precision fermentation platform, which engineers microorganisms to produce high-value recombinant proteins such as enzymes, growth factors, and therapeutics. These biologics are essential ingredients across sectors including pharmaceuticals, regenerative medicine, nutraceuticals, and advanced cosmetics.
Immobazyme’s technology addresses one of Africa’s most enduring vulnerabilities: near-total reliance on imported active pharmaceutical ingredients (APIs) and biologics. Global supply chain shocks — most visible during the pandemic — exposed how fragile Africa’s access to essential therapeutics can be. Immobazyme aims to change that by building a robust, cost-efficient local production base for complex proteins that are typically far too expensive for regional markets.
Funding to Accelerate Manufacturing and Therapeutic Development
The newly raised capital will support two major growth objectives:
- expanding Immobazyme’s proprietary biologics platform, and
- advancing the company’s therapeutics program, which aims to move early-stage drug candidates toward clinical readiness.
A significant portion of the investment will also fund the completion of an ambitious 1,800 m² facility in Cape Town, which will combine a cutting-edge R&D laboratory with a fully compliant production cleanroom. By colocating research and manufacturing under one roof, Immobazyme will be able to compress development timelines, move faster from prototype to product, and better service both domestic and international clients.
“This raise reflects the hard work of our exceptional team and the strength of our technology,” said CEO Dominic Nicholas. “We’re closing in on solutions for some of the toughest challenges in biologics, and we’re deeply grateful for the continued support of UTF II and USE. Fireball Capital’s arrival adds strategic depth as we scale.”
Fireball Capital CEO Paula Mokwena echoed the confidence, noting that Immobazyme’s blend of scientific rigor and scalable engineering positions it for exponential growth as global demand for accessible biologics accelerates.
Positioning South Africa as a Regional Biologics Hub
Immobazyme’s long-term vision extends beyond commercial success. By localizing biologic production and advancing region-specific therapeutics, the company is laying the groundwork for a self-reliant African bioeconomy. Its platform already plays a key role in sectors as diverse as salami curing, cultivated meat, anti-aging peptides, metabolic health, and cell culture research.
Over the next twelve months, Immobazyme plans to expand its team, increase production volumes, and push its internal drug development programs closer to clinical stages. With R50 million in backing and a strategy aligned with global biotech trends, the company is well on its way to becoming a pivotal node in the international therapeutics value chain — and a cornerstone of Africa’s emerging biologics manufacturing ecosystem.
