UAE-based biotech firm BioSapien has extended its pre-Series A funding round to $7 million, including investment from Golden Gate Ventures, to support clinical trials of its innovative MediChip platform. The funding will accelerate clinical trials in the UAE, with patient enrollment in Abu Dhabi slated for early 2025.
MediChip: Localized Drug Delivery for Cancer Treatment
BioSapien's flagship product, MediChip, is a 3D-printed, slow-release drug delivery system designed to be attached directly to any tissue. This localized approach aims to deliver medication directly to the tumor microenvironment, enhancing efficacy while minimizing systemic side effects commonly associated with traditional chemotherapy. According to BioSapien, over 30% of chemotherapy patients experience severe side effects, often leading to reduced or halted treatment.
Khatija Ali, CEO and Founder of BioSapien, stated, "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."
Clinical Trial Focus and Expansion Plans
The initial clinical trials will focus on colorectal cancer patients, a market valued at $19 billion and growing at a CAGR of 4%. However, BioSapien plans to expand the platform's application to other cancers, including pancreatic and lung cancer, as well as non-cancer indications such as opioid management, hormone therapies, biologics, and cell and gene therapies.
The benefits of localized drug delivery extend to various stakeholders. For patients, it promises fewer treatment roadblocks, improved quality of life during chemotherapy, and potentially avoiding or easing the limits of surgical interventions. For pharmaceutical companies and healthcare systems, the platform offers the potential to diversify pipelines, enhance drug efficacy, and expedite regulatory approvals.
Investor Confidence and Market Potential
Noor Sweid, Founder and Managing Partner of Global Ventures, commented, "BioSapien's drug delivery technology utilizes advanced 3D printing and epitomizes cost-effective innovation in a market ripe for new solutions with benefits for multiple stakeholders—including the most important of all—patients."
Sacha Haider, Partner at Global Ventures, added, "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."
By delivering medication directly to the tumor, MediChip minimizes side effects often associated with systemic chemotherapy. Local delivery also requires fewer quantities of drugs to be used while still effectively treating the tumor. BioSapien aims to treat over one million patients by 2035 via its versatile technology.
