Biotech firm BioSapien obtains $7 million in pre-Series A funding for its cancer treatment system
BioSapien, a biotech startup based in the UAE and the US, has successfully extended its pre-Series A funding round to over $8 million, surpassing its initial $7 million target. This round includes new investors such as Globivest, a women-led MENA-based venture capital fund, alongside existing backers like Global Ventures, Golden Gate Ventures, and Dara Holdings.
Founded in 2018 by Khatija Ali, BioSapien has developed a groundbreaking technology called MediChip, a 3D-printed, slow-release drug delivery platform for localized cancer treatment. The MediChip platform is designed to deliver FDA-approved toxic systemic therapies in a biodegradable mesh, localizing high-dose drug release and minimizing systemic side effects, thus improving patient quality of care and life.
With the fresh funds, BioSapien plans to accelerate clinical trials in the UAE, scheduled to begin in Q2 2025. The trials will initially focus on colorectal cancer patients, but the startup aims to expand its technology to other cancers including pancreatic and lung cancer, as well as non-cancer applications such as opioids, hormones, and biologics.
The funds will also be used for product development and scaling manufacturing capabilities. To support these efforts, BioSapien is actively expanding and strengthening its team with 12 new key hires across critical departments, including R&D, medical affairs, regulatory, pharmacology, quality, and operations. Notable appointments include Joseph Borrello, PhD as Chief Technology Officer; Sonia Ramamoorthy, MD MBA FACS as Head of Medical Affairs; and Agnes Westelinck, PharmD as Head of Regulatory U.S.
Michael Lints, Partner at Golden Gate Ventures MENA, expressed admiration for Khatija's passion and vision, and highlighted the investment as supporting a groundbreaking technology and reinforcing the Gulf region's role as a global leader in healthcare innovation. Khatija Ali, CEO and Founder of BioSapien, expressed gratitude for the support received and highlighted the critical juncture as they initiate clinical trials.
The clinical trials for BioSapien's technology will be initiated in Abu Dhabi, marking the fund's first investment in the region by Golden Gate Ventures' MENA Fund. This investment underscores the potential of BioSapien's technology and the growing interest in healthcare innovation in the UAE and the MENA region.
[1] BioSapien Press Release, [date], [link] [2] BioSapien Website, [link] [3] Golden Gate Ventures Press Release, [date], [link] [4] Globivest Press Release, [date], [link]
- BioSapien, the biotech startup focused on health-and-wellness, particularly medical-conditions like cancer, is utilizing the extended pre-Series A funding to further its research and development of the MediChip technology, a 3D-printed, slow-release drug delivery platform for localized cancer treatment.
- With the fresh funds, BioSapien aims to conduct clinical trials for its technology, starting with colorectal cancer patients, and eventually expanding to other cancers and non-cancer applications, demonstrating the company's commitment to leveraging science and technology to improve health outcomes.
