Biograil raises EUR 8.5 million to support clinical testing of oral therapeutic delivery device
Biograil ApS, a Copenhagen based biotech company developing a unique oral device for delivery of therapeutics that would otherwise have to be injected, announced a first closing of EUR 8.5 million of a financing round led by Verve Ventures. Existing investors including HTGF and Megatrend participated. Acondis GmbH joined the syndicate as a new investor. Follow-up closings with additional funds are planned for later in 2025.
Steffen Wagner, co-founder and co-CEO of Verve Ventures, will join Biograil’s Board of Directors. Wagner’s financial and investment expertise will be a valuable addition to the director group. The additional funds will support the preparation activities for the planned phase 1 clinical testing of BIONDD®.
Biograil CEO Karsten Lindhardt said: “We are pleased to secure robust financing for Biograil by a strong syndicate of investors in a difficult financing landscape. Biograil has made great strides in advancing the BIONDD® technology, completing outstanding and extensive preclinical studies proving the oral delivery of many injectable compounds with comparable bioavailability to subcutaneous injections. Biograil looks forward to further developing the BIONDD® technology and completing the preparation for clinical studies bringing significant value to the platform.”
Verve CEO, Steffen Wagner commented: “Verve Ventures is extremely happy to participate and lead this important Biograil financing. Biograil’s BIONDD® technology has matured significantly, is applicable to a broad range of opportunities and addresses a multi-billion-dollar market. I look forward to working closely with the Biograil team as Biograil moves to the next stage of development.”
About Biograil ApS
Biograil is a Copenhagen based biotech company developing pharmaceutical products based upon the BIONDD® device contained in a standard size, double zero or single zero, capsule able to deliver active therapeutics into the stomach mucosal wall to be effectively distributed in the human body. Such therapeutics can be currently marketed products, including multi-billion-dollar injectable pharmaceuticals or new chemical entities that cannot otherwise be delivered orally. The Biograil device uses a novel mechanism to facilitate the delivery of active substances, i.e., biologics, efficiently into the stomach wall utilizing a proprietary platform technology manufactured by injection molding. The team behind Biograil is a combination of seasoned entrepreneurs with extensive 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.
Biograil has collaborations with Eli Lilly & Co and CSL Behring. The Biograil investor syndicate includes Megatrend Invest, Verve Ventures, High-Tech Gründerfonds, Eli Lilly and Co., Sanner Ventures, Evonik Venture Capital, Acondis GmbH and Roquette Ventures.
About Verve Ventures
Verve Ventures is one of Europe’s most active venture capital firms, focusing on deep tech. Founded in 2010 in Switzerland, Verve backs outstanding startups based on scientific excellence from the Seed stage onward. It has an active portfolio of over 150 companies and has achieved over 20 successful exits. Through Verve Ventures, startups get access to an extensive network of sophisticated private and institutional investors who actively help them succeed.
About HTGF – High-Tech Gründerfonds
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing start-ups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports start-ups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Across its funds, HTGF has over 2 billion euros under management. Since its inception in 2005, HTGF has financed more than 770 start-ups and achieved almost 200 successful exits.
Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family offices.
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