BioSapien Strengthens Funding to $7M with New Investments
Deal News | Jan 27, 2025 | Zawya
BioSapien, the biotech company behind the innovative MediChip platform, has extended its pre-Series A funding to $7 million. This round saw participation from high-profile investors like Golden Gate Ventures, which made its first MENA deployment through this investment. The funds will primarily support clinical trials and development of MediChip, a revolutionary 3D-printed localized drug delivery system aiming to reduce systemic side effects for cancer treatment. BioSapien's expansion aligns with UAE's strategic healthcare initiatives, reinforcing the nation's status as a leader in health innovation. With clinical trials scheduled for Q2 2025 in Abu Dhabi, BioSapien intends to advance cancer treatment, initially focusing on colorectal cancer and possibly expanding to other conditions. Global Ventures and Dara Holdings played a crucial role in the previous funding phase, establishing the groundwork for this current extension.
Sectors
- Biotechnology
- Venture Capital
- Healthcare and Medical
Geography
- United Arab Emirates – BioSapien's clinical trials and technological advancements are set to take place in Abu Dhabi, aligning with UAE's strategic healthcare goals.
Industry
- Biotechnology – The article discusses BioSapien, a biotech company, and its development of a novel cancer treatment platform, MediChip.
- Venture Capital – The article details investment activities involving Golden Gate Ventures, a venture capital firm investing in BioSapien's funding round.
- Healthcare and Medical – The article focuses on medical advancements in cancer treatment spearheaded by BioSapien, supported by investment to enhance healthcare innovation.
Financials
- $7,000,000 – The total raised in the extended pre-Series A funding round for BioSapien.
- $5,500,000 – The amount raised in BioSapien's previous pre-Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BioSapien | Target company | Company | A biotechnology company focused on developing localized cancer therapies using its MediChip platform. |
| Golden Gate Ventures | Investor | Company | A globally active venture capital firm supporting BioSapien's funding round through its MENA Fund. |
| Global Ventures | Investor | Company | A leading VC firm in MENA that led a previous funding round for BioSapien. |
| Dara Holdings | Investor | Company | A participant in BioSapien's previous $5.5 million pre-Series A funding round. |
| Khatija Ali | CEO and Founder | Person | The CEO and founder of BioSapien, spearheading the company's innovative approach in cancer treatment. |
| Michael Lints | Partner | Person | A partner at Golden Gate Ventures MENA, expressing investment support for BioSapien. |