Alcolase raises €1.5 million

Copenhagen-based biotech startup Alcolase has secured €1.5 million in funding from Ada Ventures, Delphinus Venture Capital, Antler, Manigoff Invest and a group of angel investors. The company is developing an enzyme-based technology intended to break down alcohol in the stomach before it is absorbed into the bloodstream, targeting people with ALDH2 deficiency, a genetic condition linked to alcohol intolerance that is common in East Asia. The funding will support in vivo studies, further development of its liposomal enzyme delivery platform, expansion of its intellectual property portfolio and early commercial efforts in markets including Singapore and South Korea, alongside the growth of its recently established UK therapeutic subsidiary.

Alcolase is developing an enzyme-based technology designed to break down alcohol in the stomach before it is absorbed into the bloodstream. The technology is aimed at approximately 540 million people in East Asia living with ALDH2 deficiency, a genetic variant that makes it difficult for the body to break down alcohol effectively and can lead to flushing, nausea and discomfort, as well as increased health risks associated with alcohol consumption.

For many people, alcohol intolerance is not a matter of choosing not to drink. In cultures where social drinking is woven into business meetings, networking and family life, people with ALDH2 deficiency are physiologically excluded from settings that shape professional opportunity and social belonging. It was meeting people living with alcohol intolerance that made the problem clear to Mikkel Precht, CEO and Co-founder of Alcolase.

“When you speak to people with alcohol intolerance, you realise this is not about wanting to drink more. It is about not being shut out of dinners, work events and family gatherings because of a genetic difference. We want to give people a real choice they are currently denied,” says Mikkel Precht. “What drives me is the idea that biotechnology can solve problems that affect people’s everyday lives. If we succeed, we can create a healthier alternative for a very large number of people.”

Alcolase has developed a new way to protect enzymes from stomach acid and keep them active in the stomach; a technology based on encapsulation in liposomes. The aim is to develop a solution that can create healthier alternatives in a global drinking culture.

The company plans to initially enter the market in Singapore and subsequently South Korea, where alcohol intolerance is particularly common. To support the development of the delivery platform for therapeutic use-cases, Alcolase has established a UK subsidiary, with Ada Ventures supporting the team’s expansion into the UK life sciences ecosystem.

“Alcolase is exactly the kind of company we look for: a science-led team tackling a problem that affects hundreds of millions of people. ALDH2 deficiency has been hiding in plain sight. It’s a genetic reality for around 540 million people in East Asia, yet barely addressed by mainstream health innovation. The team is using biotechnology to give people a real choice in how they participate in social and cultural life, without compromising their health. We’re delighted to support the team as they establish their UK therapeutic subsidiary to develop the wider drug delivery opportunity, and that Alasdair Thong, Venture Partner at Ada Ventures, will be joining the board to support them in this next phase.” Check Warner, Co-founding Partner at Ada Ventures.

For Delphinus Venture Capital, the investment is an example of the type of research-based innovation that can develop into global companies originating from Denmark, if founders have access to risk capital and the ability to turn deep technology into real-world solutions.

“If startups like Alcolase are to become global success stories, Denmark needs more risk-tolerant capital and strong international co-investors. We were fascinated by Mikkel’s vision of using biology to solve a problem that affects millions of people’s everyday lives, and by his ability to execute, learn and build a strong team around him. It is this kind of ambitious, technology-driven innovation that we want to help lift,” says Katrine Haahr Riisberg, Investment Associate at Delphinus Venture Capital.

With the investment, Alcolase will reach a number of key milestones in the next phase of the company’s development. These include an in vivo study, further development of the technology, strengthening of the company’s IP position and the first commercial steps towards partnerships in leading markets.

Michael Wiatr Aagaard, Partner at Antler, comments: “Mikkel and his co-founders have the ambition, scientific expertise and determination required to find a solution to a major health and social issue. This funding is a testament to the commitment of the team as they take their product from Denmark to the rest of the world. We’ve backed Alcolase from an early stage and are proud to continue supporting them as they turn their vision into global impact.”

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