BioSapien extends Pre-series A funding round to over $8mln - with new investment from Globivest
Abu Dhabi, U.A.E – BioSapien (the 'Company'), the pioneering biotech company behind MediChip™, a revolutionary localized cancer treatment platform - announces a new extension to its pre-Series A funding round and the appointment of new talent across the business - including Joseph Borrello PhD as Chief Technology Officer, Sonia Ramamoorthy MD MBA FACS as Head of Medical Affairs, Agnes Westelinck PharmD as Head of Regulatory U.S., Dirk Richter MD FACS as Head of Regulatory U.A.E., David Briere PhD as Director of Pharmacology, and Jerry Webb BSc as Head of Quality.
BioSapien is delighted to welcome Globivest as an investor in the pre-Series A funding round. Globivest is the first women-led, gender lens venture capital fund from the MENA region - and has expertise in Life Sciences.
BioSapien's pre-Series A funding total is now over $8 million, with investors including Global Ventures - a leading VC firm in MENA; plus Golden Gate Ventures and Dara Holdings.
Globivest's stated mission is to break the myth that opposes capital returns to impact-driven models. Championing the WHO's 'One Health' approach, it specializes in innovative and scalable early-stage startups that drive health, social, and environmental change - making BioSapien an ideal fit for its portfolio.
BioSapien also announces the acquisition of world-class talent across all tiers of the Company – with 12 new appointments. In addition to the appointments listed above, other new talent includes Zhiyu Xia PhD as Senior Manufacturing Engineer, Gaurav Vij MBA as Business Officer, Nancy Sperling MS MS as the QC Lead, Nivedita Sivakumar PharmD MS as Documentation and Compliance Manager, Manny Valenza BA as Clinical Development Associate and Jared Rice BA as the Research and Operations Lead.
Dr. Khatija Ali, CEO of BioSapien, said:
'Two of the greatest challenges for young, fast-growing companies are establishing a strong balance sheet and attracting high-quality talent. Therefore, I am delighted to announce an extension of BioSapien's pre-Series A funding round. As a female-led healthcare fund in the MENA region - and backed by EU pharma - we are proud to have Globivest as an investor and strategic partner.
'Similarly, it gives me great pleasure to welcome new, world-class colleagues across all tiers of the Company. A business is only as good as its people - so it is thrilling to be joined by such high-quality, diverse talent. Together, we will shape a future where precision medicine is both globally impactful and locally accessible.'
Dr. Laura-Joy Boulos, Partner at Globivest, commented:
'At Globivest, we back companies that don't just promise innovation - they deliver transformative, science-backed solutions with the power to shift paradigms. BioSapien's MediChip™ platform is a breakthrough in localized cancer treatment - scalable, precise, and deeply aligned with our One Health mission. We're proud to support Dr. Khatija Ali and her team as they build the future of accessible precision medicine.'
Further information
Thoburns
Johanna Lawson-Dick
BioSapien@thoburns.com
About BioSapien
BioSapien is a clinical-stage biotechnology company pioneering the future of localized drug delivery through its proprietary biodegradable 3D-printed delivery platform. Headquartered between the United States and the UAE, BioSapien's flagship technology, MediChip™, enables sustained, targeted release of chemotherapeutics directly at the tumor site—minimizing systemic toxicity and revolutionizing cancer care. The company is backed by global experts in oncology, materials science, and regulatory strategy, and is preparing for its first-in-human clinical trials.
As part of the UAE's growing biotech ecosystem, BioSapien is aligned with the nation's vision to advance precision medicine, health innovation, and localized manufacturing capabilities. With a clear regulatory pathway, strong IP portfolio, and transformational applications beyond oncology - including infectious disease and post-operative care - BioSapien is positioned to become a cornerstone of the UAE's sovereign biotech ambitions.
For more information, visit www.biosapien.com.
About Globivest
Globivest is the first women-led, gender-lens impact investment fund from the MENA region, championing the WHO's One Health approach. The fund blends financial returns with meaningful, science-backed impact, investing in tech-driven, early-stage startups at the intersection of health, social, and environmental innovation. With a footprint across EMEA and the Americas, Globivest supports cross-border scale and market expansion.
A key differentiator lies in Globivest's partnership with Sci-dip, a digital health platform founded by Globivest partner Dr. Laura-Joy Boulos, connecting the fund to a network of over 10,000 PhD experts. This collaboration enhances scientific due diligence and positions Globivest as a trusted co-investor for top-tier VC firms — particularly in life sciences, where depth of domain expertise is essential.
Managing partner Jasmine Busson is a Kauffman Fellow, joining a global network of elite investors responsible for over $8.5T in exits.
With Fund II now officially closed and a growing portfolio of nine companies, Globivest is emerging as a leading force in science-driven impact investing in the region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
8 minutes ago
- Zawya
Sukuk issuances: AAOIFI unlikely to implement Standard 62 this year
The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), the leading standard-setting body for Islamic finance, is unlikely to issue its new Standard 62 guideline for sukuk structures this year. The much-debated standard, designed to differentiate sukuk structures from conventional bonds to meet Shariah compliance, may see the light of day only early next year, market participants aware of the matter told Zawya. 'AAOIFI has postponed the implementation of Standard 62, and it may now take place next year. The sukuk markets are currently on much calmer ground,' the head of DCM at a leading MENA bank told Zawya. Islamic bonds in the MENA region raised $32.2 billion during the first half of 2025, marking a 14% increase from the same period last year and setting a new first-half record. Sukuk accounted for 37% of total bond proceeds raised in the region during H1 2025, compared to 38% in the first six months of 2024, according to data from LSEG. The world of Islamic capital markets is anxiously awaiting the final version of Standard 62, which in its draft exposure emphasised ownership transfer of assets and asked for detailed treatment on hybrid sukuk as well as Tier-1 and Tier-2 capital sukuk. The Bahrain-based AAOIFI, which includes around 20 senior Shariah scholars announced that new measures will be introduced this year, with a transitional period of one to three years for issuers to adapt. The exposure draft was published in December 2023, giving market participants until the end of July 2024 to provide feedback. The standard-setting body is now conducting roundtables and industry events on Standard 62. Market disruption However, experts warn that if Standard 62 is approved as proposed, it could be disruptive for the market and Islamic banks. 'The final version is unlikely to be implemented in 2025. The changes suggested by AAOIFI under the draft Standard 62 would entail a significant deviation from the current practices,' the investments head of a leading Shariah-compliant bank based in Qatar told Zawya. 'AAOIFI is aware of the implications, but they won't shy away from making changes just because it may negatively affect the industry,' he added. 'Ownership transfer must be genuine and enforceable, not superficial. In structures requiring ownership transfer, sukuk holders must have genuine recourse to the underlying assets,' AAOIFI told Zawya. However, it did not comment on whether Standard 62 will be implemented this year or delayed. Global credit rating agency Fitch said there remains a lack of clarity around the standard's final scope and implementation. 'The standard has not reduced Islamic banks' ability to issue, invest in and arrange sukuk, but these remain risks to watch,' it said. 'In its draft proposal, the vast majority of Standard 62 is not controversial and is already being applied in the market. But there is a minority portion regarding asset transfer and legal title transfer within the standard [which is] causing an issue,' the head of Islamic finance at a leading UAE bank told Zawya. According to him, Standard 62 will significantly change how sukuk are commonly structured and perceived with a clear distinction. 'If Standard 62 is passed as it is, it will change the nature of sukuk from an unsecured form of financing to securitisation. Alternatively, if securitisation is not preferred by the issuer, it will need to remain as unsecured financing. This represents a significant change in the nature of the instrument compared to what we are used to today.' Change in risk profile 'What AAOIFI is saying is that the asset needs to be effectively transferred from the balance sheet of the issuer to the investors. And that could impact the market in several ways,' Mohamed Damak, Managing Director at S&P, said. Sukuk issuance could be difficult for some issuers that cannot transfer assets freely. There are also concerns about who will bear the expenses of transferring the asset. 'For instance, issuers need to have a specific law or abide by specific rules when it comes to privatisation of sovereign assets before being able to transfer that,' Damak said. In some countries in the Middle East, not all assets can be owned by private investors. Though rules are being relaxed in the region, there are many countries where real estate assets cannot be owned by foreign investors. While some sukuk investors may not want to take on the credit risk exposure of the issuer, some issuers may prefer to keep their assets and refinance on the capital market to raise long-term financing. 'Also, if you transfer the asset from the sponsor of the sukuk to the investors, it will mean that the investors would be exposed to risks related to the asset. These risks could include the pricing of the asset, issues related to the destruction of the underlying asset, or risks related to the nationalisation of the underlying asset, which investors are generally not exposed to,' Damak said. As Standard 62 proposals call for real transfer of the asset and thereby an exposure to the market value of the asset to the investors, it could change the nature of the sukuk, which resembles a fixed income instrument, to an equity-like instrument. The investor profile and the parameters of pricing would also undergo a change. 'If sukuk becomes like an equity instrument, you would be speaking to investors who [...] would be more demanding in terms of pricing in order to compensate for the additional risk to which they are exposed,' Damak said. The level of AAOIFI standards adoption varies across Islamic finance jurisdictions. Malaysia, Saudi Arabia, and Indonesia collectively account for more than 70% of annual sukuk issuance, but AAOIFI standards are not compulsory in these jurisdictions. Impact on UAE, Bahrain sukuk issuances More than 20 jurisdictions have adopted AAOIFI standards, including Bahrain and the Higher Shariah Authority in the UAE. This means that any UAE-based issuers who want to tap the sukuk market, or any issuer worldwide who wants to issue a sukuk and engage with UAE investors, must comply with these standards. While Malaysia, the largest Islamic economy, as well as Indonesia and Saudi Arabia, have not fully adopted AAOIFI standards, they will need to comply if they wish to issue sukuk and attract UAE investors. 'The immediate impact will initially be observed in the UAE and Pakistan, where AAOIFI standards are mandatory. The implications will be determined based on whether the standard is passed in its current form, the regulators' stance and approach to implementation, and how market players adapt to these decisions,' said Jinan Al Taitoon, a sukuk expert at LSEG. 'Introducing amendments that account for the practicalities of the sukuk market, such as offering exemptions, alternative treatments for specific underlying assets, or suggested modifications to sukuk structures, could help mitigate these implications,' Al Taitoon added. Impact on Islamic banks? 'The new standard will be a means of greater harmonisation across jurisdictions, leading to a more robust and streamlined sukuk market,' AAOIFI said. If the adoption of Standard 62 disrupted sukuk issuance, it may affect some Islamic banks' overall funding and liquidity profiles. It could also raise Islamic banks' cost of funding. Demand, including from international investors, could be affected if it makes sukuk less comparable to conventional bonds, according to Fitch. Banks in the UAE and Bahrain are already assessing how the standards will impact their business and are exploring alternative options. 'It's the readiness of the markets to adapt that matters,' an Islamic banker said. 'All the banks know what is going to come, and they have discussed it with issuers. The onus falls on the issuers to change their documentation to apply Standard 62. Banks can help issuers with what needs to be done,' he added.
Zawya
8 minutes ago
- Zawya
Azizi boosts procurement efforts, onboards 131+ framework suppliers
UAE-based Azizi Developments has significantly expanded its direct procurement efforts by having signed more than 131 framework agreements in 2025, marking a major stride toward further increased quality, enhanced cost efficiency, faster project execution and greater supply chain control, enabled by improved operational autonomy. The move underscores the developer's continuous pursuit of real estate excellence and enables its swiftly growing portfolio of world-class real estate projects across Dubai and beyond. Of the total framework agreements signed, 110 are for MEP (Mechanical, Electrical, and Plumbing) works, with the remaining 21 covering civil construction. With suppliers spanning over 20 countries, the developer's framework agreements reflect a globally integrated procurement model. Approximately 60% of onboarded suppliers originate from Europe, from countries such as Italy, Germany, France and the United Kingdom, while another 20% are homegrown and based in the UAE. North America and Asia are both also very well represented, making up another almost-20% of suppliers signed with. Most are multinational conglomerates operating across regions, further contributing to the robustness of Azizi's newly formed supply chains. Group CEO Farhad Azizi said: "This achievement marks a major milestone in our ongoing efforts to take the reins in strengthening our direct procurement efforts, allowing us to deliver best-in-class communities across Dubai and beyond." "By onboarding more than 131 diverse and highly qualified framework partners, which are all carefully selected via a very stringent qualification process, we ensure the consistency, quality, and timeliness that our investors and end-users expect. Our global supplier base is a reflection of our pursuit of excellence – a value that remains at the heart of every project we undertake," he stated. With a procurement approach focused on innovation, efficiency, and resilience, Azizi carries on setting new benchmarks in quality-driven development while contributing to Dubai's transformation as a global real estate and investment hub, he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Khaleej Times
an hour ago
- Khaleej Times
'I have Dh4,000 in fines': Sharjah residents thankful for discount, vow to drive safer
Several motorists have expressed their gratitude after Sharjah announced a 35 per cent discount on traffic fines, calling it a relief and a chance to reset. Many admitted they had racked up fines while rushing or due to honest mistakes and now hope others will also take the opportunity to drive more responsibly. The Sharjah Executive Council, chaired by Sheikh Abdullah bin Salem bin Sultan Al-Qasimi, announced that motorists who pay within 60 days of committing a violation will receive a 35 per cent discount. The reduction applies not just to fines, but also to late penalties, vehicle impoundment, and storage fees. For payments made after 60 days and before one year, a 25 per cent discount on the financial penalty alone will apply. Over Dh4,000 in fines Sharjah resident Anurag Tari, who works in the insurance industry, said the discount was a huge relief. 'I checked yesterday, I have Dh4,290 in fines. That's a lot, especially with school fees and rent coming up,' he said. 'Most of my violations are from the morning rush, speed limits, and many parking tickets I got when I left my car on the side for just five minutes,' said Anurag, thanking the Sharjah government. 'This is a kind gesture, but it's also a wake-up call. I have learned my lesson. No more rushing or parking fines from now on,' added Anurag. 'Don't wait for discounts, follow rules' Abdel Hakim, a Sudanese expat working at a gym as a trainer in Muweilah, said that while he appreciated the discount, he hoped all motorists would take road safety more seriously. He has been fined twice for not wearing a seatbelt, a few times for parking and thrice for not following the lane on the highway. 'The fine for not following the lane is a dispute and I have reached out to the traffic department and they are quite helpful,' he said. 'These rules are there for a reason. I am thankful for the 35 per cent reduction, it makes a difference when you don't earn a big salary. But I also feel guilty. We shouldn't wait for offers to follow rules,' said Abdel Hakim. He added that he now wears his seatbelt whenever he even sits in his car and pays for parking, even if it's for a few minutes. 'It's about protecting yourself and others. This is not just about money, it's about safety.' Syed Hashim, a 39-year-old sales executive and father of two living in Al Nahda, often finds himself rushing during school drop-offs. 'I usually drop my kids near Al Ghubaiba in the mornings and then head out for shopping or errands before work,' he said. 'One day I ended up getting a Dh300 fine for blocking the road, but honestly, I was stuck because other cars had cornered me and I couldn't move even if I wanted to," he narrated. Imran added that he has unknowingly violated rules a few times. 'Once, I drove in the truck lane while trying to avoid a congested route. And another time, I didn't pay for parking in Al Majaz 2. I thought paid parking ends at 10pm, like in most areas, but apparently it's till midnight there. I had taken the family out for dinner and came back to a fine.' He said the new discount scheme is a huge relief. 'These may seem like small mistakes, but the fines quickly add up. I am grateful to the authorities for this decision. It gives people like me a second chance," he said.
