SA Biotech Startup Immobazyme Raises USD 1.45 25 M Growth Funding

South African biotech startup Immobazyme has secured ZAR 25 M (USD 1.45 M) in new growth capital, bringing its total funding raised to ZAR 50 M (USD 2.9 M). The round was led by University Technology Fund (UTF II), with participation from existing investor University of Stellenbosch Enterprises (USE) and new backer Fireball Capital.

The funding comes as Africa pushes to localise pharmaceutical and biologics production, a sector still heavily dependent on imports.

Immobazyme, founded in 2019 as a Stellenbosch University spinoff, specialises in precision fermentation, programming microorganisms to produce high-value biologics such as recombinant growth factors, peptides and enzymes. These proteins are essential inputs for therapeutics, cultivated meat, cosmetics, and research industries.

The new capital will support completion of a 1,800 square-metre facility in Cape Town and advance the company’s move into higher-value pharmaceutical applications.

Immobazyme already boasts revenue from industrial enzyme and growth-factor supply, but the expanded facility is expected to accelerate production scale, deepen R&D, and push its therapeutics program closer to clinical viability.