The venture capital arm of Hikma Pharmaceuticals – Hikma Ventures – has participated in a seed financing round for BioSapien Inc.
BioSapien is a developer of 3D-printed biodegradable implantable devices intended to deliver FDA-approved drugs directly to cancerous cells. The venture-backed biotechnology company is focused on innovative therapies to transform patient care.
One device created by BioSapien is MediChip. This novel 3D-printed biodegradable mesh is intended to allow for chemotherapy to be delivered intravenously through a controlled drug release. The main aim of the technology is to enable physicians to reduce harmful side-effects and costs.
“The effects of chemotherapy can take a tremendous toll on the immune system and body of patients undergoing treatment for cancer,” said Hamzeh Abdul-Hadi, principal at Hikma Ventures. “We are excited to be an early investor in BioSapien and its novel drug delivery system. It has the potential to revolutionize the delivery of chemotherapy through a targeted, personalized and controlled approach to alleviate the unwanted side effects and toxicities of the treatment.
“We are also strong supporters of BioSapien’s leadership team, led by CEO and co-Founder Dr. Khatija Ali,” added Abdul-Hadi. “We are proud to continue supporting female founders, who now comprise more than 20% of our investment portfolio.”
Meanwhile, Dr. Khatija Ali, CEO and co-founder of BioSapien, commented: “Hikma Ventures is a strong addition to our investor syndicate. We are extremely pleased to have such an experienced partner supporting our work to transform patient care. The seed round funds will advance development of MediChip and give access to global distribution channels and manufacturing.”