UAE-Based BioSapien Secures $5.5 Million to Advance Cancer Treatment

UAE-based healthtech company BioSapien has secured $5.5 million in pre-Series A funding, led by Global Ventures with participation from Dara Holdings. Founded in 2018 by Khatija Ali, BioSapien is advancing its flagship product, MediChip, a 3D-printed, slow-release drug delivery system designed for localised cancer treatment.

The funding will support the company's upcoming clinical trials in the UAE, with patient enrollments in Abu Dhabi scheduled to begin in Q2 2025. The capital will also be used to expand product development and manufacturing capabilities, as well as to hire additional talent.

MediChip offers a unique approach to cancer treatment by delivering drugs directly to the tumor site, ensuring that more of the drug stays within the tumor microenvironment. This targeted delivery system aims to reduce tumor size, alleviate symptoms, and potentially prevent invasive surgeries, all while minimising systemic side effects typically associated with traditional treatments like chemotherapy.

While BioSapien's initial focus is on colorectal cancer, the company plans to expand its technology to other cancers, such as pancreatic and lung cancer, as well as to non-cancer conditions, including opioid delivery and gene therapies.

The global cancer drug delivery market is valued at $247 billion, with the colorectal cancer market alone estimated at $19 billion and growing at a steady pace.