Biotech venture BioSapien secures $7 million pre-Series A funding for its cancer treatment system
BioSapien, a biotech startup based in the UAE and US, has made significant strides in the field of cancer treatment with the development of MediChip, a 3D-printed drug delivery platform for localized cancer treatment. The startup has recently extended its pre-Series A funding round to over $8 million, with Globivest - a women-led, gender-lens venture capital fund from the MENA region - joining as a new investor alongside existing backers like Global Ventures, Golden Gate Ventures, and Dara Holdings.
MediChip: A Revolutionary Cancer Treatment Solution
BioSapien's flagship product, MediChip™, is a 3D-printed, slow-release drug delivery platform designed for localized cancer treatment. It can attach to any tissue with minimal systemic side effects, aiming to enable precision medicine by delivering cancer therapies directly and locally, improving effectiveness and reducing side effects.
Clinical Trials and Global Expansion
While explicit details about clinical trials were not provided, the expanded funding will support ongoing product development and global expansion, which likely includes clinical advancement activities. BioSapien is aggressively expanding its team, appointing 12 new senior executives across R&D, medical affairs, regulatory, operations, pharmacology, and quality assurance to support growth and commercialization.
Focus on Colorectal Cancer and Future Plans
Initially, BioSapien will focus on colorectal cancer patients but plans to expand its technology to other cancers and non-cancer applications. The fresh funds will be used by BioSapien to accelerate clinical trials in the UAE, set to begin in Q2 2025, as well as for product development and scaling manufacturing capabilities.
Leadership Team Appointments
Key hires include Joseph Borrello, PhD (Chief Technology Officer), Sonia Ramamoorthy, MD MBA FACS (Head of Medical Affairs), Agnes Westelinck, PharmD (Head of Regulatory U.S.), Dirk Richter, MD FACS (Head of Regulatory U.A.E.), and David Briere, PhD (Director of Pharmacology).
Michael Lints, Partner at Golden Gate Ventures MENA, was impressed by Khatija's passion and vision and commented that the investment supports a groundbreaking technology and reinforces the Gulf region's role as a global leader in healthcare innovation. The extension was led by Golden Gate Ventures' MENA Fund, marking the fund's first investment in the region.
Khatija Ali, the CEO and Founder of BioSapien, expressed gratitude for the support received and noted that the investment comes at a critical juncture as they initiate clinical trials in Abu Dhabi.
In conclusion, BioSapien's focus on innovation in cancer treatment technology, strengthening their team, and scaling globally is reflected in this latest funding round and leadership team appointments. The platform allows for targeted medication delivery directly to tumors, reducing the quantity of drugs needed while maintaining treatment effectiveness.
Technology plays a crucial role in BioSapien's flagship product, MediChip™, a 3D-printed, slow-release drug delivery platform designed for localized cancer treatment. This innovative technology enables precision medicine by delivering cancer therapies directly and locally, aiming to improve effectiveness and reduce side effects.
