Biograil, a biotech firm based in Copenhagen, has closed a €20 million funding round led by Verve Ventures and Megatrend Invest, with participation from returning backer High-Tech Gründerfonds (HTGF) through its HTGF Opportunity growth fund. The company's BIONDD® platform represents a capsule-based oral delivery system intended to bring injectable therapeutics—including biologic drugs—to patients in pill form. Capital from this round will fund preparatory work for Phase 1 clinical trials, encompassing non-clinical Good Laboratory Practice (GLP) studies and the setup of a Good Manufacturing Practice (GMP)-certified production facility, ahead of a planned larger financing round scheduled for 2027.

Technology and approach

Biograil's oral drug delivery platform addresses a challenge in pharmaceutical administration: moving medicines away from injection and into a standard capsule format. The BIONDD® device sits within a capsule and delivers active compounds—including large-molecule biologics—directly into the stomach wall, where they enter the bloodstream. The approach targets both existing injectable medications and novel compounds that may prove difficult to formulate for conventional oral or injection-based administration.

Funding and next steps

The €20 million injection, combined with non-dilutive partnership funding, positions Biograil to complete the regulatory groundwork necessary before human testing begins. Key milestones include finishing non-clinical GLP studies and establishing GMP-compliant manufacturing capacity. The company is targeting a subsequent, larger financing round in 2027 to support later-stage development.

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.

Karsten Lindhardt, CEO of Biograil

Investor backing

HTGF first backed Biograil in 2019 as part of an early seed syndicate. Anke Cassing, Principal at HTGF, remarked on the firm's continued confidence in the company's direction.

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.

Anke Cassing, Principal at HTGF

Beyond the lead investors in this round, Biograil's backer roster includes Eli Lilly and Company, Sanner Ventures, Evonik Venture Capital, Anobis GmbH and Roquette Ventures.

Source: ArcticStartup