Biograil raises €20M to turn injectable drugs into swallowable capsules
What's the deal? Copenhagen-based Biograil has closed a €20 million early VC round to develop an oral device that delivers drugs normally given by injection. Verve VenturesDealroom has a profile for this one. Try Dealroom → and Megatrend Invest backed the round, with HTGF — which led Biograil's 2019 seed syndicate — participating through its HTGF Opportunity growth fund.
What's the endgame? Biograil's proprietary BIONDD technology packs a device into a standard-size, easy-to-swallow capsule. The capsule dissolves in the stomach and releases a spring-loaded mechanism that attaches to the stomach wall and delivers medication into the tissue. The bio-compostable device then passes safely through the GI tract.
Why now? The company plans to use the capital to push BIONDD toward Phase 1 clinical studies, completing non-clinical GLP studies and establishing a GMP manufacturing process ahead of a larger financing in 2027. The raise follows a July 2025 first close of an €8.5 million round led by Verve Ventures.
Who's backing it? The syndicate also includes High-Tech Gründerfonds, Eli Lilly and Company, Sanner VenturesDealroom has a profile for this one. Try Dealroom →, Evonik Venture CapitalDealroom has a profile for this one. Try Dealroom →, Anobis, and Roquette VenturesDealroom has a profile for this one. Try Dealroom →.
"We first invested in Biograil in 2019 because we saw the potential of its approach to oral drug delivery," said Anke Cassing, principal at HTGF. CEO Karsten Lindhardt said the technology "can allow oral delivery of large market compounds for better convenience and medical benefit."
The signal: At €20 million, Biograil's round sits in the 96th percentile for early VC deals in Danish health startups over the past 48 months. The scale, plus participation from pharma and chemicals heavyweights like Eli Lilly and Evonik, signals serious industry appetite for replacing needles with pills.
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Image credit: Biograil
