INOFEA successfully closed its Series B financing round
Muttenz, Switzerland, Nov. 16, 2020: End of September 2020 INOFEA AG executed the successful closure of its recent financing round Series B. “It was amazing to see that we have been able to oversubscribe our target, both with the support of existing and also of new shareholders”, said the CEO, Dr. Anne Timm. “The entire INOFEA Team and our Board are proud of this important milestone and we thank our investors who made this happen.” INOFEA will use its investment to grow its market position, mainly in the Pharma and Food segment. The constant growth of the customer base demonstrates the value of the technology in the white biotech sector. INOFEA’s clients are particularly in favour of the technology as it supports raw material, energy and cost savings when used in continuous manufacturing processes. The unique technology makes enzymes up to 20-35 times more stable and reusable. This supports a valuable contribution to the sustainability targets of the industry. INOFEA is in the process to file new patents, has a supply agreement, multiple research agreements and a license agreement in place. Beside Biocatalysis the company focuses on the market of diagnostics (biomarkers) where the enzzen®-enzyme technology makes complicated and for the patient painful biopsies obsolete. INOFEA is expanding its team, both on the technical and commercial side and an industry-seasoned dedicated Business Development Manager has been hired. This will enable the ambitious growth aspirations of the company in the coming years. INOFEA invites companies in the industry who are actively looking for enzymatic solutions for Biocatalysis and Diagnostics to enter into partnerships for the development of robust and recyclable enzymes.