Basel based startup INOFEA has successfully closed its financing round with contributions from returning as well as new private investors. INOFEA owns a highly innovative nanotechnology platform to shield sensitive enzymes and has positively demonstrated substantial benefits to customers in a number of biopharma-related applications.
This week, INOFEA announced the closing of an oversubscribed financing Series A round with new private investors.
“I am thrilled by the great support from our investors and the acceptance of our business model. We will use these funds to progress into a product based company by continuously growing the sales of empowered enzymes, and also explore the benefits of the platform for therapeutic enzymes in high medical need areas”, says Yves Dudal, CEO of INOFEA.
INOFEA was founded in 2014 in Basel as a spin-out from the School of Life Sciences, University of Applied Sciences and Arts, Northwestern Switzerland (FHNW).
INOFEA empowers enzymes. The company has developed a unique and patented platform technology called enzzen to fit enzymes to in vivo and process conditions. INOFEA immobilizes any enzyme or cocktail of enzymes onto safe silica particles and protect them by growing a nano-structured shield on the outer surface of the particle. This formulation of enzymes provides them with remarkable resistance to in vivo and process conditions, such as acidity, temperature, presence of chaotropic agents, proteases, etc, hence empowering enzymes.
From this platform technology, the company derived three lines of business: direct sales of enzzen-formulated commercially available enzymes, licensing for enzzen-inside applications, and therapeutic enzymes. In all cases, INOFEA performs the development in house and outsource manufacturing to a Contract Manufacturing Organisation (CMO).
(Press release)
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