Dubai – Sharikat Mubasher: Biosapien, a UAE-based biotech company, successfully expanded its Pre-Series A funding round to $7 million, with new investors including Golden Gate Ventures, marking the firm’s first investment in the Middle East and North Africa through its dedicated regional fund.
This funding builds on a $5.5 million round in December led by Global Ventures with participation from Dara Holdings, according to a press release.
The additional capital will accelerate clinical trials for the MediChip platform in the UAE, scheduled to begin in Q2 2025, alongside product development and manufacturing expansion.
MediChip is an innovative drug delivery system utilizing 3D printing technology. It features a slow-release mechanism that can attach to any tissue, minimizing systemic side effects. The platform is designed to deliver medication directly to cancerous tumors, reducing the need for large doses while maintaining treatment efficacy.
The company plans to initiate clinical trials for colorectal cancer patients, with future expansions targeting other cancer types such as pancreatic and lung cancer. Biosapien is also exploring non-cancer applications for its technology, including opioids, hormones, and biological, cellular, and genetic therapies.
By 2035, Biosapien aims to treat over one million patients with its versatile technology, leveraging the UAE's advanced healthcare initiatives and commitment to improving quality of life through innovation.
