Biograil Raises €20 Million to Move Oral Drug Platform Toward Trials

By Daniel Okafor

Biograil, a Copenhagen-based biotechnology company, raised €20 million to advance its BIONDD drug-delivery platform toward clinical development. Verve Ventures and Megatrend Invest supported the financing, and HTGF participated through its HTGF Opportunity growth fund.

Biograil will use the money for preclinical development, manufacturing preparations and regulatory activities required before planned Phase 1 clinical studies. The financing will also support planned Phase 1 development while the company prepares for a larger capital raise anticipated in 2027.

How does the capsule-based system work?

BIONDD consists of a specialized delivery device contained within a standard pharmaceutical capsule. According to Biograil, the system is designed to deliver active therapeutic substances into the stomach’s mucosal wall. The company says the design would let those substances enter the body through a mechanism that differs from conventional oral drug absorption.

Biograil sees potential applications in biologic medicines and other treatments that generally require injection because they are not absorbed effectively through the digestive tract. For those treatments, BIONDD would use a capsule rather than an injection.

It also aims to deliver medicines that are difficult to deliver through conventional tablets or capsules. Biograil believes the technology could improve patient convenience and create development opportunities for existing and experimental medicines.

Biograil CEO Karsten Lindhardt said:

“Excellent to see such strong support from existing internal investors and involve the HTGF Opportunity growth fund in the round. This, in combination with non-diluting funding from partnerships, will enable Biograil to continue to move our BIONDD technology toward Phase 1 clinical studies.”

“The BIONDD technology can allow oral delivery of large market compounds for better convenience and medical benefit and in addition create development opportunities for new innovative combination products which may never have been feasible or attractive as conventional injectable or oral products.”

What must Biograil complete before human testing?

Biograil plans to complete nonclinical studies conducted under Good Laboratory Practice standards. It will establish manufacturing processes consistent with Good Manufacturing Practice requirements. The company describes these activities as prerequisites for advancing BIONDD toward human clinical testing.

Biograil manufactures the technology using injection molding. The company says the process is intended to support consistent production and scalability. Its financing covers preparations for that manufacturing work alongside nonclinical development and regulatory activity.

The development team includes biotechnology entrepreneurs and research executives with experience in pharmaceutical delivery technologies. Biograil says the team includes professionals involved in developing the first FDA-approved injection-molded oral tablet.

Who is backing Biograil?

Biograil’s investor group includes Megatrend Invest, Verve Ventures, HTGF, Eli Lilly and Company, Sanner Ventures, Evonik Venture Capital, Anobis and Roquette Ventures. The latest financing builds on earlier fundraising activity, including a seed financing syndicate led by HTGF in 2019.

HTGF Principal Anke Cassing said:

“We first invested in Biograil in 2019 because we saw the potential of its approach to oral drug delivery. Our participation through the HTGF Opportunity reflects our continued conviction in that potential as the company prepares for clinical development.”

Biograil plans to continue working with investors and development partners to prepare BIONDD for clinical evaluation. The company is positioning the platform for both marketed injectable medicines and new therapeutic compounds.

Biograil says the technology could be valuable in pharmaceutical categories where patient adherence, treatment convenience and drug formulation remain important challenges. The next test for BIONDD is completion of the required nonclinical, manufacturing and regulatory work. Human testing and a larger capital raise expected in 2027 remain ahead.