Biograil Secures Seed 2 Funding for Oral Delivery Device for Biologics
February 17, 2022
COPENHAGEN, DENMARK, Jan 17th, 2022 – Biograil ApS, a Copenhagen based biotech company developing a unique oral device for delivery of biologics that would otherwise be injected, announced the closing of a Seed 2 funding of 3.2 million Euro. The Round was led by Danish Megatrend Invest a/s with strong support from other prior investors including Verve Ventures, a Swiss Investment group and Sanner Ventures, a German family office. Evonik Venture Capital participated as a new investor.
Evonik Venture Capital is the corporate venture capital arm of Evonik Industries, one of the world leaders in specialty chemicals. Evonik has in-depth understanding of biodegradable polymers in pharma and medical device applications and will support the company efforts to create a fully biodegradable and environmentally friendly delivery solution which provides additional strategic value to Biograil.
Biograil is very pleased with the strong internal support and commitment from current ownership and great to see that we continue to be able to attract new experienced investors like Evonik Venture Capital to our Investor Syndicate. We look forward to the technical support Evonik can provide to identify and/or potentially develop suitable biodegradable polymers for our capsule technology and our strive to make BIONDDTM the preferred oral delivery device technology for peptides and biomacromolecules.
Karsten Lindhardt, Biograil CEO
Evonik Venture Capital is glad to now be part of the Biograil Investor Syndicate. We see a large business potential for oral drug delivery devices. The BIONDDTM technology and team behind Biograil has a great opportunity to develop an excellent technical solution to the future benefit of patients. We look forward to provide our expertise in biodegradable polymers to support the Biograil team and their efforts to further progress this platform technology.
Jonas Ide, Investment Manager at Evonik Venture Capital (now an observer in the Board of Directors of Biograil)
Biograil will use the funds to optimize the design of its delivery device and to advance its ongoing preclinical testing and initiate preparation for development activities and to plan for substantial investment and collaboration funding in 2022 to further transition the company from research to a development stage company.
About Biograil ApS
Biograil is a Danish start-up using injection molding to manufacture a device contained in a standard size capsule able to deliver active substances into the gastrointestinal wall. The Biograil device uses a proprietary mechanism to facilitate the delivery of active substances i.e. biologics efficiently into the gastrointestinal wall. The team behind Biograil is a combination of seasoned entrepreneurs with long experience in creating successful biotech companies as well as R&D executives behind the world’s first injection molded oral tablet approved by the FDA. The Biograil investor syndicate is formed by Megatrend Invest (Denmark), Verve Investment, High-Tech Gründerfonds (HTGF), Sanner Ventures and Evonik Venture Capital.
Biograil ApS Baldersbuen 2
2640 Hedehusene Denmark
CVR: 40 66 66 99
CEO Karsten Lindhardt
+45 21 66 39 41
About Evonik Venture Capital
With a fund size of €250 million, Evonik Venture Capital (EVC) has made about 40 investments since 2012, both direct and fund investments. EVC has offices in Germany, the U.S.A. and China and invests in innovative technologies and disruptive business models in the fields of Nutrition & Care, Specialty Additives and Smart Materials, as well as enabling digital technologies. The EVC team of experienced investment managers provide portfolio companies comprehensive support. The investment scope ranges from early stage to growth stage with investment volume per portfolio company of up to €15 million.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 650 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected more than EUR 4 billion into the HTGF portfolio via more than 1,800 follow-on financing rounds. HTGF has also successfully sold interests in more than 150 companies.
Investors in this public-private partnership include the Federal Ministry for Economic Affairs and Climate Action, KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Bank, Deutsche Post DHL, Dräger, 1+1 AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.
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