Enginzyme has raised SEK 75 million in new equity financing as the Swedish biotechnology company shifts from research and development toward a more commercially focused biomanufacturing strategy.
New investors Lotus One Investment and Valquest Partners Europe joined the round and will become shareholders and members of Enginzyme’s Board of Directors.
Existing and other investors participating in the financing included Sofinnova Partners, Stiftelsen Industrifonden, Navigare Ventures, Almi Invest GreenTech and several additional shareholders.
Enginzyme develops cell-free biomanufacturing technology that uses engineered enzymes rather than living organisms to produce ingredients and chemicals.
Its patented enzyme immobilization technology is designed to enable more cost-efficient manufacturing while reducing environmental impact compared with traditional chemical production methods.
The company is targeting applications across the personal care, food and pharmaceutical industries.
Enginzyme works with global manufacturers from early techno-economic evaluation and process development through industrial-scale manufacturing.
The financing will support the company’s effort to expand adoption of its technologies and move additional programs toward commercial production.
The company is based in Solna near Stockholm and has a multidisciplinary team specializing in enzyme engineering, process engineering, biocatalysis and organic chemistry.
KEY QUOTE:
“With our growth strategy established, closing this new investment round was a priority for enginzyme. We are also very excited to welcome new shareholders with complementary expertise, who will all contribute to our mission to deliver biomanufacturing solutions for the personal care, food, and pharmaceutical industries. Our technology enables lower cost in use for higher-quality ingredients, obtained through more sustainable manufacturing processes.”
Aymeric de Gantes, CEO of Enginzyme
