Startup investment bank for the emerging markets JPIN Venture Catalysts Ltd (JPIN) has announced its participation in the $1.8 million investment round in BioSapien, a pioneering biotech that uses 3D Printed Biodegradable mesh designed to deliver cancer drugs directly to tumour sites with greater efficacy and reduced side effects.

Joining JPIN in the investment round is the global venture capital investor SOSV, as well as DC Capital Ventures, Hikma Ventures, Microventures, Side Door Ventures, Kartik Garg – The Modern Nomad, and other high net-work angels and investors. In addition to this funding, BioSapien has also received a $256,000 grant from the National Science Foundation (NSF) to help accelerate the development of their patented product MediChip.

The new capital will be used to fuel the development of MediChip, a patented drug delivery system designed to provide targeted cancer drugs straight to hard-to-reach tumour sites, for increased efficacy with reduced toxicity. The funds will also be key in helping the company gain access to global distribution channels and manufacturing.

Founded in 2018, in New York City, NY, BioSapien has already garnered global attention. In addition to the seed round funding and NSF grant, the company has been recognised in high profile biotech pitch competitions, winning the Pitch Night by Amazon and the Get in the Ring Start Up Competition. It is hoped that the MediChip technology will be key in improving treatments of some of the hardest to treat cancers, including pancreatic cancer and others such as lung cancer, esophageal cancer, and colorectal cancer.

Gaurav Singh, Co-Founder of JPIN, says:

“The technology that BioSapien has developed and patented is hugely exciting with potentially massive ramifications in the cancer treatment industry both in terms of revenues and, more importantly, saving lives. At JPIN we are always looking to back the next generation of startups and businesses looking to change the world and to be joined by so many other great investors in this round shows the impact BioSapien is set to make over the coming years.”

Chirag Gala, Co-Founder of DC Capital Ventures says:

“We are fortunate and excited to participate in this fundraise for BioSapien’s novel drug delivery system. The investment should provide vital and timely capital in order to fuel their continued growth and expansion for 3D printed biodegradable mesh chips designed to deliver cancer drugs directly to the tumour site while reducing side effects.”

Dr Khatija Ali, CEO & Co-Founder of BioSapien, said:

“It’s great to have the support of these esteemed investors in BioSapien, joining us on what is an exciting journey to providing a truly novel way to deliver drugs to specific sites and tumours that otherwise would be difficult to treat without significant side-effects. On top of the investment, the grant from the NSF gives us a huge confidence boost as well as the funds to accelerate the development of our MediChip product. The next few years look exceedingly bright for the company and we can’t wait to see what comes next and couldn’t be happier to have JPIN be a part of that.”