South African Biotech Startup Immobazyme Secures R25m in Growth Funding to Advance Local Biopharma Production
- Immobazyme secured R25m ($1.45m) in growth funding, raising total capital to R50m ($2.9m).
- The funding round was led by the University Technology Fund with participation from University of Stellenbosch Enterprises and Fireball Capital.
- Africa's biotech sector is under pressure to localize supply chains due to reliance on imports for pharmaceuticals.
The funding raised by Immobazyme highlights a significant shift towards localizing biotech production in Africa, which is crucial for reducing dependency on imports and enhancing self-sufficiency. The company's focus on cost-effective biologics production could pave the way for more sustainable healthcare solutions in the region.
