Biotech company BioSapien secures $7 million in funding prior to Series A for their cancer treatment system
In a significant move, Golden Gate Ventures' MENA Fund has made its first investment in the region, backing BioSapien, a UAE-based health tech and biotech startup that has developed a groundbreaking 3D-printed drug delivery platform for localized cancer treatment.
Founded in 2018 by Dr. Khatija Ali, BioSapien's flagship product, MediChip, is designed to provide controlled, slow drug release directly at the tumor site. This innovative approach minimizes collateral damage to healthy cells and improves patient outcomes.
The recent funding round, which extends BioSapien's pre-Series A round to over $8 million, saw the participation of MENA-focused VC Globivest, Global Ventures, Dara Holdings, and Golden Gate Ventures. Globivest, a first women-led gender-lens VC fund in MENA focused on early-stage health innovation, led the funding extension, aligning with its mission of impactful investing.
The fresh funds will be used to accelerate clinical trials in the UAE, scheduled to begin in Q2 2025, as well as for product development and scaling manufacturing capabilities. The investment also brings in prominent talent hires across clinical, manufacturing, and compliance roles to support BioSapien's scaling efforts.
Michael Lints, Partner at Golden Gate Ventures MENA, expressed his admiration for Khatija's passion and vision, stating that the investment supports a groundbreaking technology and reinforces the Gulf region's role as a global leader in healthcare innovation.
Khatija Ali, the CEO and Founder of BioSapien, expressed her gratitude for the support received and stated that the investment comes at a critical juncture as they initiate clinical trials. She also mentioned that BioSapien plans to initially focus on colorectal cancer patients but aims to expand its technology to other cancers like pancreatic and lung cancer, and non-cancer applications such as opioids, hormones, and biologics.
This investment marks Golden Gate Ventures' significant entry into the MENA healthtech and biotech innovation ecosystem, with BioSapien's cutting-edge 3D-printed drug delivery technology for cancer treatment as its flagship portfolio company in the region. The MediChip platform, which allows for targeted medication delivery directly to tumors, reducing the quantity of drugs needed, is set to revolutionize cancer treatment in the region and beyond.
Science continues to advance in the realm of health and wellness, as BioSapien, a UAE-based startup, develops a 3D-printed drug delivery platform for localized cancer treatment. Khatija Ali, BioSapien's founder, aspires to expand the technology's application beyond cancer, targeting conditions like pancreatic and lung cancer, as well as non-cancer applications such as opioids, hormones, and biologics.
