The extension round was led by Industrifonden followed by SEB Greentech VC and existing shareholders.
“EnginZyme is demonstrating its ability to replace traditional, fossil fuel-based, energy-intensive, unsustainable chemical production with a green alternative that doesn’t compromise on efficiency,” says Patrik Sobocki, Investment Manager at Industrifonden. “The company represents the future of synthetic biology and the future of chemical production. EnginZyme has a blue ocean opportunity to redefine the chemical industry. We are pleased to add EnginZyme to our deep tech portfolio as it fits well with our strategy.”
“The climate crisis is the challenge of our lifetime. Building a sustainable future requires the rapid adoption of technologies like EnginZyme’s in hard to abate sectors such as chemicals manufacturing,” says Markus Hökfelt, head of SEB Greentech VC. “We are thrilled to make EnginZyme our first SEB Greentech VC investment.”
EnginZyme previously announced its Series A investment led by Sofinnova Partners.
A cell-free synthetic biology platform
The chemistry industry has a central role to play in the mitigation of climate change, before 2050 it needs to cut its own emissions by half, while at the same time quadrupling production to meet the needs of the world’s growing population. EnginZyme has developed a cell-free synthetic biology platform that can provide R&D services to companies in multiple industries, including the pharma industry. The technology platform combines the breadth and power of nature (enzymatic cascades) with the efficiency of the chemical industry (packed bed reactors) in a best-of-both-worlds technical solution, the company states.
“When it comes to the pharma industry, for active pharmaceutical substances there are many advantages with our technology. For example, pharmaceuticals are often complex molecules that demand an advanced synthesis in several steps, which produces a lot of waste. But by using enzymes in combination with flow chemistry (our technology) there are less steps, the amount of waste is decreased and the manufacturing process becomes simpler, cheaper and more environmentally friendly,” describes Dr. Karim Engelmark Cassimjee, CEO and co-founder of EnginZyme to Nordic Life Science.
Within five years he sees his company as the leading company within synthetic biology, with a number of implemented manufacturing processes for products in several different market segments.
Photo of Karim Engelmark Cassimjee, CEO and co-founder of EnginZyme