Biograil closes €3m seed round led by High-Tech Gründerfonds
The Danish biotechnology company secures seed capital to develop an oral delivery device for biologic medicines.
Biograil announced a €3 million seed financing on 15 January 2020, led by High-Tech Gründerfonds. The syndicate included Megatrend Invest, a Swiss investment group and a Danish private healthcare investor.
The company planned to use the money to optimise its oral drug delivery device and advance preclinical testing. Its approach placed a device inside a standard-size capsule to deliver biologic medicines through the gastrointestinal wall, addressing the poor absorption that often prevents these treatments from being taken orally.
The financing had the potential to expand to €5 million. That figure represented a possible extension; the company announced €3 million as closed. HTGF’s Anke Cassing joined Biograil’s board.
Use of funds
Optimise the oral drug delivery device
Advance preclinical testing