UAE Biotech Startup BioSapien Secures $7 Million in Pre-Series A Funding for Cancer Treatment Innovation
In a significant stride for medical innovation, BioSapien, a biotechnology startup with roots in both the United Arab Emirates and the United States, has successfully expanded its pre-Series A funding round to $7 million. This latest infusion of capital was led by Golden Gate Ventures’ MENA Fund, marking the fund's inaugural investment in the region. This development builds upon an initial $5.5 million raised in December, spearheaded by Global Ventures with participation from Dara Holdings.
Established in 2018 by Dr. Khatija Ali, BioSapien is at the forefront of revolutionizing cancer treatment through its innovative product, MediChip™. This 3D-printed, biodegradable implant is engineered to deliver chemotherapy agents directly to tumor sites, thereby minimizing the systemic side effects commonly associated with traditional cancer therapies. By facilitating localized, slow-release drug delivery, MediChip™ aims to enhance treatment efficacy while preserving patient quality of life.
The newly secured funds are earmarked to accelerate clinical trials in the UAE, with patient enrollment slated to commence in the second quarter of 2025. These trials represent a pivotal step in validating MediChip™'s therapeutic potential and are poised to position Abu Dhabi as a nexus for cutting-edge healthcare innovation. In addition to clinical development, the investment will bolster product refinement and scale manufacturing capabilities to meet anticipated demand.
Dr. Ali, reflecting on this milestone, expressed gratitude for the robust support from the investment community: "We are delighted to announce our new investment and are grateful for all the support we have received. The expertise and belief in our vision from our investors come at a critical juncture as we initiate clinical trials in Abu Dhabi." Her sentiments underscore a commitment to transforming localized cancer treatment into a global standard of care.
Michael Lints, Partner at Golden Gate Ventures MENA, articulated the firm's enthusiasm for backing BioSapien: "Having met CEO and Founder Khatija at Hub71 in Abu Dhabi, we were instantly impressed by her passion and vision. Investing in BioSapien aligns with our commitment to supporting transformative technologies that address significant global challenges. This investment not only supports a groundbreaking technology but also reinforces the Gulf region’s role as a global leader in healthcare innovation."
BioSapien's MediChip™ is initially targeting colorectal cancer, with aspirations to extend its application to other malignancies, including pancreatic and lung cancers. Beyond oncology, the platform's versatility holds promise for delivering a range of therapeutics, such as opioids, hormones, biologics, and cell and gene therapies. The company's ambitious mission is to impact over one million patients by 2035, leveraging its technology to address diverse medical needs.
This funding milestone not only propels BioSapien's innovative endeavors but also accentuates the UAE's burgeoning status as a global hub for medical technology and healthcare excellence.