Danish Startup Alcolase Secures €1.5 Million to Combat Alcohol Intolerance with Innovative Enzyme Technology
Danish biotechnology startup Alcolase has successfully raised €1.5 million in a funding round led by prominent investors including Ada Ventures, Delphinus Venture Capital, Antler, Manigoff Invest, and a group of business angels. This funding marks a significant step forward in Alcolase’s mission to revolutionize how alcohol intolerance is managed, using cutting-edge enzyme-based technology.
Breaking Down Alcohol with Enzyme Technology
Alcolase is pioneering an enzyme-based solution that breaks down alcohol in the stomach before it enters the bloodstream. This breakthrough is particularly crucial for the approximately 540 million individuals in East Asia who experience ALDH2 deficiency. This genetic variant hampers the body’s ability to metabolize alcohol, causing adverse reactions such as flushing, nausea, and discomfort, alongside increased health risks.
A Mission Born from a Pandemic-Era Insight
The inception of Alcolase’s innovative approach was seeded during a conversation in a student residence amid the coronavirus pandemic. Mikkel Precht, along with his co-founders, sought to apply their biotechnology expertise to a pressing real-world issue. Despite considering a variety of global health challenges, they consistently returned to the problem of alcohol intolerance.
For many, this intolerance is not a matter of choice. In societies where alcohol is deeply integrated into professional and social contexts, individuals with ALDH2 deficiency often find themselves excluded from key social and professional interactions. Mikkel Precht, CEO and co-founder of Alcolase, emphasizes the importance of inclusivity, stating, “When you talk to people with alcohol intolerance, you realize that it’s not about wanting to drink more. It’s about not being excluded from dinners, work events, and family gatherings because of a genetic difference. We want to give people a real choice that is currently denied to them.”
Creating a Healthier Alternative Through Innovation
Alcolase’s technology represents a novel approach to enzyme protection, utilizing liposomal encapsulation to safeguard enzymes against stomach acid, maintaining their activity within the stomach. This innovation aims to offer healthier alternatives within global drinking cultures.
The company is planning to initially target the Singapore market, followed by South Korea, where the prevalence of alcohol intolerance is notably high. To facilitate this expansion, Alcolase has established a UK subsidiary, supported by Ada Ventures, to develop a distribution platform for therapeutic use cases and integrate into the UK life sciences ecosystem.
Investor Confidence and Future Milestones
Check Warner, co-founding partner at Ada Ventures, expressed enthusiasm about the investment, stating, “Alcolase is exactly the type of company we are looking for: a scientist-led team tackling a problem that affects hundreds of millions of people. We are delighted to support the team in establishing their UK therapeutics subsidiary to develop a broader drug delivery opportunity.” Alasdair Thong, Venture Partner at Ada Ventures, will join the board to support Alcolase in this next development phase.
The fresh infusion of funds will enable Alcolase to achieve several critical milestones, including conducting an in vivo study, advancing their technological framework, fortifying their intellectual property position, and initiating commercial partnerships in leading markets.
Michael Wiatr Aagaard, Partner at Antler, remarked, “Mikkel and his co-founders have the ambition, scientific expertise, and determination to find a solution to a major health and social problem. This funding demonstrates the team’s commitment as they bring their product from Denmark to the rest of the world. We have supported Alcolase from the beginning and are proud to continue supporting them as they turn their vision into global impact.”
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