Biograil Receives Innobooster Grant Providing Non-dilutive funding for BIONDDTM Technology Research and Activities in Preparations for Phase 1 clinical trials
COPENHAGEN, DENMARK, 14 March, 2022 – Biograil ApS, a Copenhagen based biotech company developing a unique oral device for delivery of biologics that would otherwise be injected, announced granting of government funds from Innobooster. This non-dilutive grant of more than 4 mill DKK (approx. € 550k) in combination with internal funds will be used to progress Biograil’s proprietary BIONDDTM technology and make pre-clinical, manufacturing, and regulatory work packages to support activities leading toward phase 1 clinical studies with the technology. This is the second grant that Biograil receives from Innobooster. Key partners such as SPT Vilecon, Bioneer and Scantox are included in the suggested Innobooster program which aims to result in regulatory approval of human clinical trials.
Biograil CEO Karsten Lindhardt said: “Biograil is very proud and happy with the continued support from Innobooster now approving a second grant to the company. With the project outlined, Biograil will take a very important step with our great partners into development. This opens new doors to further increase the value of collaborations and attract additional capital to progress and grow the company further. The technology requires significant funds to reach the market. This also offers a huge opportunity within many different drug classes and diseases in an area gaining increasing interest from large pharmaceutical companies. I would like to thank our key technical partner SPT Vilecon and the engineering team here being an important resource for Biograil’s progress with the BIONDDTM technology.”
SPT Vilecon CEO Bjarne Andersen commented: “SPT Vilecon is very pleased to support Biograil in the development of the BIONDDTM technology. I am very proud of my team and their effective collaboration with Biograil showing such promising progress. The BIONDDTM technology has great potential, and we see that cost effective manufacturing of the technology can be established and we are happy to be part of the product development and product optimization. We have many years of expertise in optimizing manufacturing of devices. It is great to see that Biograil has now received substantial support from Innobooster to further progress the technology.”
Biograil will use the Innobooster funds to progress the technology to the development stage reducing the risk of the technology towards later stage development and commercialization even further. Phase 1 clinical trials are likely to provide additional opening for key collaborations and move this technology closer to market. Biograil believes there would be significant benefit to patients to provide an easy swallowable capsule as an alternative to injections.
About Biograil Aps
Biograil is a Danish start-up that uses injection molding to manufacture a device contained in a standard size capsule able to deliver active substances into the gastrointestinal wall. The Biograil device uses a proprietary mechanism to facilitate the delivery of active substances i.e., biologics efficiently into the gastrointestinal wall. The team behind Biograil is a combination of seasoned entrepreneurs with long experience in creating successful biotech companies as well as R&D executives behind the world’s first injection molded oral tablet approved by the FDA. The Biograil investor syndicate is formed by Megatrend Invest (Denmark), Verve Investment, High-Tech Gründerfonds, Sanner Ventures and Evonik Venture Capital.
About SPT Vilecon
SPT Vilecon is a dynamic integrated solution provider within the MedTech business for every step in a product realization. Being the preferred business partner and ISO 13485 certified, SPT Vilecon participates from concept over design through manufacturing and supply. It also includes all necessary documentation for certification filing through SPT Vilecon’s internal RA consultants. As SPT Vilecon is a single integration partner, SPT Vilecon provides the customer with the ability to deliver high quality products. SPT Vilecon reduces the risk and accelerates the time to market.