Biograil raises €3.2m Seed 2 round for oral biologic delivery
Megatrend Invest led the round to advance Biograil’s capsule device and preclinical work on medicines that are usually injected.
Biograil announced a €3.2 million Seed 2 round on 17 February 2022. Megatrend Invest led the financing, joined by Verve Ventures, Sanner Ventures and new investor Evonik Venture Capital.
The Danish biotechnology company planned to use the capital to optimise its oral delivery device, advance preclinical testing and prepare further development. Evonik brought expertise in biodegradable polymers to the investor group.
Biograil is developing a capsule that delivers biologic medicines through the gastrointestinal wall. The approach is intended to offer an oral route for treatments that would otherwise require injection. At the time of the financing, the device was in preclinical development.
Use of funds
Optimise the oral delivery device design
Advance preclinical testing
Prepare development activities