BioSapien Propels UAE into Medtech Limelight with $7M Funding Extension
Deal News | Jan 28, 2025 | Zawya
BioSapien, a healthtech company, has expanded its pre-Series A funding round to an impressive $7 million, which highlights the growing prominence of the United Arab Emirates (UAE) as a hub for medical technology innovation. The raised funds are earmarked for clinical trials in the UAE for the company's patented MediChip—a 3D-printed drug delivery system aimed at treating cancer more effectively while minimizing adverse systemic effects. The investment received major backing from leading Middle East and North Africa (MENA) venture capital firm Global Ventures, with support from Dara Holdings. This extension follows a December funding round of $5.50 million and signifies a strong emphasis on product development, scaling manufacturing capabilities, and advancing clinical trials slated for Q2 2025. Khatija Ali, CEO and Founder of BioSapien, and Michael Lints of Golden Gate Ventures MENA, expressed optimism that this investment would position the Gulf region as a global leader in healthcare innovation.
Sectors
- Healthtech
- Venture Capital
Geography
- United Arab Emirates – The clinical trials for BioSapien's MediChip platform are planned to occur in the UAE, emphasizing the country's role as a growing hub for medtech innovation.
Industry
- Healthtech – BioSapien operates within the healthtech industry, focusing on advanced medical technologies like its MediChip platform.
- Venture Capital – The involvement of Global Ventures and Dara Holdings in the funding round highlights the role of venture capital in driving innovation in the healthtech sector.
Financials
- 7,000,000 – Total funds raised in the extended pre-Series A round.
- 5,500,000 – Amount raised in the initial pre-Series A funding round in December.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BioSapien | Target Company | Company | A healthtech company developing the MediChip platform for localized cancer treatment. |
| Global Ventures | Lead Investor | Company | A leading venture capital firm in the MENA region that led the funding for BioSapien. |
| Dara Holdings | Investor | Company | Participated in the funding round, supporting BioSapien's efforts. |
| Golden Gate Ventures MENA | Commentator | Company | Their partner, Michael Lints, commented on the investment, emphasizing its alignment with transformative technological commitments. |
| Khatija Ali | CEO and Founder | Person | CEO and Founder of BioSapien, leading its initiatives towards advanced cancer treatment. |
| Michael Lints | Partner at Golden Gate Ventures MENA | Person | Commented on the significance of the investment in BioSapien. |