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BioSapien secures $5.5M pre-Series A for its drug delivery platform

December 12, 2024
BioSapien secures $5.5M pre-Series A for its drug delivery platform

BioSapien, the patented drug delivery platform treating cancer "locally," announced a $5.5 million (20.2M AED) pre-Series A fundraise.

The capital will be used to fund the company's clinical trials in the UAE, with patient enrolments in Abu Dhabi set to begin in Q2 2025. Proceeds will also be allocated to increase product development and manufacturing and onboard new talent.

BioSapien's flagship product — MediChip — is a drug delivery, 3D-printed, slow-release delivery platform attachable to any tissue with minimal systemic side effects.

Local delivery means more of the drug stays in the tumor microenvironment to aid more efficient oncology, such as downsized tumors, alleviating symptoms, and preventing potentially life-altering surgeries. Local delivery also requires fewer quantities of drugs to be used while maintaining safety.

Initially, BioSapien is developing its platform for clinical trials in colorectal cancer patients, with the scope to branch out to other cancers (pancreatic, lung) and non-cancer indications such as opioids, hormones, biologics, and cell and gene therapies.

Funding 💰

Round $5.5M
Pre-Series A
Lead investor(s) Global Ventures
Also participating Dara Holdings

Quotes 💬

“
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.
— Khatija Ali, CEO and Founder
“
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.
— Noor Sweid, Founder and Managing Partner of Global Ventures
“
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.
— Sacha Haider, Partner at Global Ventures

About 🏢

BioSapien is a biotechnology company specializing in innovative cancer treatments. Its flagship product, MediChip, is a 3D-printed, biodegradable implant designed to deliver chemotherapy drugs directly to tumor sites, aiming to minimize systemic side effects commonly associated with traditional chemotherapy. This localized approach targets cancer cells more precisely and enhances patients' quality of life during treatment. The company holds global patents for its platform, with expirations set for 2039. BioSapien's mission is to advance human well-being through innovative solutions, with a goal to treat over one million patients by 2035. In addition to Abu Dhabi, the company has an office in San Diego, California. more
source

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