Biograil ApS, a Danish biotechnology company developing a unique oral device for delivery of biologics that would otherwise be injected, closed a €3m seed funding.
The round, which is can be expanded to €5M, was led by High-Tech Gründerfonds (HTGF) with participation from Megatrend Invest a/s, a Swiss Investment group as well as a Danish private healthcare investor. Anke Cassing from HTGF has joined the Board of Directors of Biograil.
The company will use the funds to optimize the design of its delivery device and to advance its ongoing preclinical testing and to plan for a substantial global Series A Funding in Q1 2021.
Led by CEO Karsten Lindhardt, Biograil is using injection molding to manufacture a device contained in a standard size capsule able to deliver active substances into the gastrointestinal wall. The device avoids mechanical moving components and makes use of the body’s own peristaltic forces to facilitate the delivery of the biologic efficiently into the gastrointestinal wall.