Alcolase Raises €1.5M for Alcohol Flush Enzyme Therapy

Copenhagen-based biotechnology firm Alcolase has successfully closed a €1.5 million funding round, signaling a significant step forward in its mission to develop an enzyme-based solution for alcohol intolerance. The investment, which saw participation from prominent backers including Ada Ventures, Delphinus Venture Capital, Antler, and Manigoff Invest, alongside a cohort of private investors, will fuel the advancement of its novel therapeutic approach.

The core of Alcolase's innovation lies in a proprietary enzyme technology designed to break down alcohol within the stomach before it enters the bloodstream. This addresses a critical unmet need for the estimated 540 million individuals in East Asia who experience ALDH2 deficiency, a genetic condition that impairs alcohol metabolism and can lead to uncomfortable flushing, nausea, and increased health risks. The company's strategy prioritizes initial market entry into Singapore and South Korea, regions where the prevalence of this genetic trait is notably high.

To bolster its research and development capabilities, particularly in creating a robust delivery platform for its enzyme therapy, Alcolase has established a subsidiary in the United Kingdom. This strategic move is supported by Ada Ventures, with Venture Partner Alasdair Thong joining the board to guide the company's expansion into the UK's dynamic life sciences sector. This expansion is crucial for developing the broader drug delivery potential of their technology.

The founding team, comprising Mikkel Precht, Jeppe Malthe Mikkelsen, and Mads Emil Mikkelsen, established Alcolase in late 2020 with a vision to address the social and professional barriers faced by those with alcohol intolerance. As CEO Mikkel Precht highlighted, the issue extends beyond personal preference, impacting participation in crucial social and business events where alcohol consumption is often customary. The company aims to provide a tangible choice for individuals who are currently excluded due to a genetic predisposition.

Alcolase is developing a sophisticated liposomal encapsulation system. This technology is engineered to shield the therapeutic enzymes from stomach acidity, ensuring their efficacy within the stomach environment and enabling precise delivery to the site of action. This innovative approach is key to overcoming the challenges of oral enzyme delivery and maximizing the therapeutic benefit.

With the newly secured capital, Alcolase is set to achieve several key developmental milestones. These include the execution of crucial in vivo studies, further refinement of its core technology, strengthening its intellectual property portfolio, and initiating commercial discussions for strategic partnerships in target markets. The company's ambition is to offer a healthier alternative within the global social drinking culture, enhancing well-being for a significant population segment.