Cape Town, South Africa — December 1st, 2025 — Immobazyme, the stand-out Bio-tech company in South Africa who have been building scalable, cost-effective biologics, has secured an additional R25 million in funding, bringing its total capital raised to R50 million.
The round was led by the University Technology Fund (UTF II), with participation from Fireball Capital and University of Stellenbosch Enterprises (USE) as co-investors.
The new capital raise will be used for two specific company growth strategies : Accelerate the expansion of Immobazyme’s proprietary biologics platform and advance its therapeutics program as part of the company’s global growth strategy. It will also support development of a new 1 800 m² facility in Cape Town, combining a state-of-the-art R&D laboratory with a fully compliant production cleanroom to better serve domestic and international partners pursuing high-value, affordable biologics.
Company Background
Immobazyme was founded in 2019 as a spin-out from Stellenbosch University. Emerging from the university’s LaunchLab incubator, it was established by three close friends and PhD graduates: Dominic Nicholas (CEO), Nick Enslin (CTO), and Ethan Hunter (COO). The trio, inspired by their academic research in enzyme engineering, aimed to harness precision fermentation for sustainable protein production.
Starting with free lab space from the Institute of Plant Biotechnology, the company quickly scaled, achieving ISO 9001:2015 certification and expanding facilities. The platform underpins products and partnerships across multiple sectors and is driving strong year-on-year revenue growth as the company expands its commercial footprint in Africa and abroad.
Specializing in recombinant protein biomanufacturing, Immobazyme develops high-value enzymes and growth factors via immobilized enzyme technology. It serves diverse sectors: food and beverage (e.g., novel ingredients for salami curing and cultivated meat), cosmetics (hair loss treatments and anti-aging peptides like sh-Oligopeptide-1), nutraceuticals, pharmaceuticals (regenerative medicine, IGF-1 for metabolic health), and research (cell culture media, dermatology).
Fireball Partnership a Key Ingredient for Growth
“This raise reflects the hard work of our exceptional team and the strength of our technology,” said Dominic Nicholas, CEO of Immobazyme. “Our platform is already delivering measurable impact, and we’re closing in on solutions for some of the toughest challenges in biologics. We’re deeply grateful for the continued support of UTF II and USE, and excited to welcome Fireball Capital as a shareholder and strategic global partner.”
“Fireball Capital is pleased to partner with Immobazyme as they advance their pioneering biologics platform. Our investment underscores our confidence in the team and the platform, which combines scientific rigor with scalability, positioning the company for exponential growth.” – Paula Mokwena, CEO of Fireball Capital.
The arrival of Fireball Capital, continued backing from UTF II and USE, and the successful exit of an angel investor reflect growing investor confidence in Immobazyme’s scalable business model and diversified revenue base. It also underscores the rising demand for accessible biologics.
Immobazyme’s platform technology is designed to meet this demand, responding to a shifting global landscape where affordable biologics and innovative therapeutic programs are increasingly essential. Currently, Africa imports the majority of the pharmaceuticals it consumes, with most active pharmaceutical ingredients sourced externally. This is a dependency Immobazyme is actively working to reduce. By advancing technology-driven biologics within Africa, the company contributes to a more competitive and self-reliant regional bioeconomy while positioning South Africa as a strategic partner in the global therapeutics value chain.
Over the next year, Immobazyme will expand its team and product portfolio to meet partner demand and accelerate therapeutic development programs, further solidifying its position as one of Africa’s most commercially advanced biotechnology companies.
