🎙️ Curing salami, treating hair loss and growing cultivated meat

This week, I had the pleasure of speaking with Ethan Hunter, co-founder and COO of the South African-based precision fermentation startup, Immobazyme. Awkward Mission Impossible jokes aside (on my end), it was a fascinating conversation about the unique and diverse approach he and his co-founders have taken to building a B2B biomanufacturing company. One of the standout aspects of Immobazyme’s journey is the sheer breadth of markets they operate in—ranging from cultivated meat to salami to hair loss treatments!

From Molecular Biology to Entrepreneurship

Ethan's fascination with the life sciences started early, growing up in Johannesburg, and eventually led him to Stellenbosch University, where he pursued a degree in molecular biology and biotechnology. Drawn to plant-based biotechnology, he embarked on a master’s project that explored non-cannabis-derived cannabinoid proteins—work that culminated in a published study, "Toward the identification of a phyto cannabinoid-like compound in the flowers of a South African medicinal plant."

It was at Stellenbosch that Ethan crossed paths with Dominic Nicholas, now Immobazyme’s CEO, who was pursuing his own master’s degree in microbiology. Dominic had developed a novel and more efficient method for immobilizing enzymes—a breakthrough with significant potential for the $14 billion global enzyme market. Their shared passion for innovation led them to collaborate on a patent ("An enzyme-polymer matrix"), though since their research was conducted at Stellenbosch, the university retained the IP rights (a longer discussion is needed about ownership and IP rights…)

Founding Immobazyme - One Night at the Pub….

One night at the pub, Ethan, Dominic, and Nick Enslin (an expert in yeast strain development) were comparing notes. Excited by the idea of developing a “black box” system—where glucose goes in one end and cannabinoid molecules come out the other—they decided to register a company on the spot.

I asked Ethan about having three technical experts as co-founders. He described it as their superpower:

“Every single member of the executive team is aligned and understands the challenges associated with life sciences.”

In the early days, all three were in the lab—designing, testing, iterating, and learning. Dominic took on the role of CEO, leading the company, while Ethan stepped up as COO, his right-hand man. Nick, passionate about yeast strain development, naturally became CTO.

Taking on the COO role came with challenges. Ethan had to shift from pure science to managing tax, corporate governance, and people operations—areas not typically covered in molecular biology courses.

“I'm polite to a point, but I've definitely changed my communication style. Being highly organized has definitely helped.”

Navigating Challenges and Expanding Horizons

Like many startups launched during this time, Immobazyme faced significant disruptions due to COVID. With no available lab space, they found themselves working out of a decommissioned radioactive lab—an unusual setting that turned into an unexpected opportunity to experiment with a wide range of precision fermentation applications.

Initially, their focus was on growth factors for cellular agriculture, but as the sector struggled to scale as quickly as expected, they pivoted. Expanding their scope, they developed bacterial-derived cellulose—first for medical applications like burn and skin graft replacements, then for the paper industry. This strategic shift not only led to their first commercial contract but also played a key role in securing their initial fundraising round.

Building a Modular Biotech Company

One of the most exciting things about Immobazyme is their modular technology approach. Precision fermentation is an advanced manufacturing process capable of producing an almost infinite array of products, and they’ve leveraged this versatility to develop:

• Growth factors for cellular agriculture and cosmeceuticals

• Novel food science applications for curing salami

• Potential solutions for hair loss

This willingness to operate across multiple markets has resulted in several profitable contracts. While maintaining this breadth long-term may be challenging, it’s proving highly effective for now.

Fundraising in South Africa

“We always said we'd never say no to money.”

Despite South Africa’s limited VC funding landscape, Immobazyme has successfully completed two and a half fundraising rounds. Initially, they accepted funding whenever it was offered. Now, they’re in a position to be more selective as they work toward becoming “default alive”—bringing in enough revenue to sustain operations without relying solely on external investment.
Ethan reflected on the realities of building a biotech startup in South Africa:

“While the operating expenses are really low, it is often hard to attract and retain top-tier talent.”

That said, their approach seems to be working—recently, they received over 500 applications for a single graduate role.

As we wrapped up, Ethan shared a common South African saying that perfectly encapsulates Immobazyme’s approach to building their company:

“Whatever is thrown at us, we'll make it work.”

Ethan’s Ask for This Community

📌 Immobazyme has several commercially available growth factors designed for the cultivated meat sector (FGF2, IGF, TGF, and EGF) and is working on a complete serum replacement mix. Check out their website (here) for more details.

📌 Ethan is eager to connect with anyone working on innovative, unique, or groundbreaking science. If you’re doing cool research, reach out—he’d love to chat!