The patented drug delivery platform BioSapien, which treats cancer “locally,” has announced that it has raised $5.5 million (20.2 million AED) for its pre-Series A fundraising campaign. Dara Holdings participated in the funding, which was spearheaded by Global Ventures, the top VC firm in MENA.
With patient enrollments in Abu Dhabi scheduled to start soon (Q2 2025), the funds will support BioSapien’s clinical trials in the United Arab Emirates. Additionally, the proceeds will be used to hire new employees and expand manufacturing and product development.
MediChipTM, the flagship product of BioSapien, is a slow-release, 3D-printed drug delivery platform that can be attached to any tissue and has few systemic side effects.
In order to promote more effective oncology, such as smaller tumors, reduce symptoms, and avoid potentially life-altering surgeries, local delivery ensures that a greater percentage of the medication remains in the tumor microenvironment, or the area where the tumor is located. Additionally, less medication is needed for local delivery while still being safe.
In order to expand into other cancers (such as lung and pancreatic) and non-cancer indications like opioids, hormones, biologics, and cell and gene therapies, BioSapien is first building its platform for clinical trials in patients with colorectal cancer.
The sizeable markets that require attention are highlighted by the current $247 billion global cancer drug delivery market and the $19 billion global colorectal market, which are expanding at 7.2% and 4% CAGR, respectively.
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.”
Localized drug delivery has several advantages for various stakeholders. Most significantly, three solvable issues are addressed for patients: fewer treatment obstacles (like severe side effects that prevent treatment); improved quality of life during intensive chemotherapy regimens; and lowering the de facto limits of surgical success to date. Additionally, fewer hospital stays and exposure to the tiresome side effects and logistics of systemic therapy are required.
The platform can help pharmaceutical companies and healthcare systems diversify their pipelines by addressing hard-to-treat conditions and potentially activating previously shelved assets; expanding their markets to include animals, emerging markets, pediatrics, and geriatrics, which can increase margins; improving and enhancing drug efficacy; and expediting regulatory approvals.
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.”
