INOFEA has successfully completed its 2nd tranche closing with the support of BAS members. INOFEA owns a highly innovative nanotechnology platform to shield high-value sensitive enzymes while keeping or even increasing their activity level, and has positively demonstrated substantial benefits to customers in a number of biopharma-related applications.
“For this second Tranche to be released, we needed to reach some milestones, both in terms of sales and in terms of supply of prototype materials to our customers, which were achieved in full agreement with the agenda, back at the end of August.”, says Yves Dudal, CEO of INOFEA.
INOFEA will use the 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.
INOFEA was established in 2014 as a spin-out from the School of Life Sciences, University of Applied Sciences and Arts, Northwestern Switzerland (FHNW). The startup 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).
(ran)
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