Biotechnology company BioSapien has closed a USD 5.5 million funding round led by Global Ventures with support from Dara Holdings. The funds will be used to advance the company’s clinical trials in the United Arab Emirates, including patient recruitment in Abu Dhabi, which is planned for the second quarter of 2025. In addition, the development and manufacture of the products as well as the expansion of the team are to be driven forward.
The core of the innovation is MediChip, a 3D-printed platform for local drug delivery. This is attached directly to the tissue and ensures the targeted release of active substances into the tumor environment. Local application minimizes systemic side effects while increasing efficacy. This reduces the amount of medication required and avoids invasive procedures.
Khatija Ali, CEO and Founder of BioSapien, said: “We are delighted to announce our pre-Series A fundraise to accelerate our clinical trials and product development. There is a high unmet need for sustained drug release with minimal side effects in healthcare, with over 30% of chemotherapy patients enduring severe side effects, often resulting in reduced or halted treatment. Our vision is to provide on-the-go therapy and treat cancer locally. Our innovative technology is well-placed to reduce roadblocks, increase quality of life during treatment and potentially prevent life-altering surgeries. We look forward to working closely with our investors and UAE regulators to progress MediChip and revolutionise cancer treatment.”
The technology is initially being used in clinical trials for the treatment of colorectal cancer, but could in future be extended to other types of cancer such as lung and pancreatic cancer as well as non-oncological therapies such as hormone and cell therapies. The global market for cancer therapies is currently estimated at 247 billion US dollars, with an annual growth rate of 7.2%.
Noor Sweid, Founder and Managing Partner of Global Ventures, commented: “We are excited to lead BioSapien’s pre-Series A fundraise and support Khatija’s team in providing a pioneering and local solution to colorectal cancer. BioSapien’s drug delivery technology utilises advanced 3D printing and epitomises cost-effective innovation in a market ripe for new solutions with benefits for multiple stakeholders—including the most important of all—patients. With the company’s multiple competitive advantages and the markets for colorectal and wider cancer treatments, BioSapien is at the forefront of advanced technological solutions to meet global demand.”
Sacha Haider, Partner at Global Ventures, said: “We look forward to supporting BioSapien as it disrupts the healthcare sector via innovation seeded from the region. Through localised delivery and using advanced 3D-printing, the company is providing an alternative to traditional cancer treatment. BioSapien’s patented drug delivery platform – MediChip – increases the bioavailability and retention of the desired medication, meaning less is required. This in turn, has the potential to vastly improve the patient’s treatment journey on a global scale.”
With MediChip, BioSapien aims to create a more precise, patient-friendly and economical solution for difficult-to-treat diseases.
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