UAE and US-based biotech startup BioSapien has prolonged its pre-Collection A spherical to $7 million with new funding from Golden Gate Ventures’ MENA Fund, marking the fund’s first funding within the area, it introduced in an announcement at present. The extension follows the corporate’s preliminary $5.5 million increase in December led by International Ventures, with participation from Dara Holdings.
Based in 2018 by Khatija Ali, BioSapien has developed MediChip, a 3D-printed drug supply platform that allows localized most cancers therapy with minimal systemic uncomfortable side effects. The startup plans to make use of the recent funds to speed up scientific trials within the UAE, that are set to start in Q2 2025, together with product growth and scaling manufacturing capabilities.
The corporate’s platform permits for focused medicine supply on to tumors, decreasing the amount of medicine wanted whereas sustaining therapy effectiveness. Initially specializing in colorectal most cancers sufferers, BioSapien plans to develop its know-how to different cancers together with pancreatic and lung most cancers, in addition to non-cancer functions similar to opioids, hormones, and biologics.
Khatija Ali, CEO and Founding father of BioSapien, mentioned, “We’re delighted to announce our new funding and are grateful for all of the assist we now have obtained. The experience and perception in our imaginative and prescient from our traders come at a crucial juncture as we provoke scientific trials in Abu Dhabi.”
Michael Lints, Companion at Golden Gate Ventures MENA, commented, “Having met CEO and Founder Khatija at Hub71 in Abu Dhabi, we had been immediately impressed by her ardour and imaginative and prescient. This funding not solely helps a groundbreaking know-how but in addition reinforces the Gulf area’s position as a worldwide chief in healthcare innovation.”
The startup goals to deal with over a million sufferers by 2035 via its versatile know-how, which will be tailored for numerous medical functions past most cancers therapy.
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