Bio-Sourcing funding news – Belgian-based Bio-Sourcing Raises €12.5Million from EIC Accelerator

Even when a patent expires, access to biosimilars—medical treatments that are strikingly similar to previously approved biological drugs—remains severely restricted due to their high cost. The majority of these exorbitant expenses are linked to conventional production techniques.

A novel, economic, and sustainable platform for the manufacturing of a new class of biotherapeutics—monoclonal antibodies, in particular—has been created by Bio-Sourcing.

The BioMilk platform from Bio-Sourcing takes advantage of goats' innate capacity to generate complex proteins in their milk. This process drastically lowers the production's environmental impact and is five times more economical than conventional methods.

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The company plans to introduce adalimumab (Humira), a popular therapy for autoimmune illnesses, as the first biosimilar to clinical trials. Significant upfront payments and ongoing royalties from the adalimumab biosimilar are anticipated; these funds will be used to fund additional research and development.

This will allow Bio-Sourcing to expand its business and introduce more biosimilars, like golimumab and trastuzumab, two more popular biologics, to the market.

Dr. Bertrand Merot, founder and CEO of Bio-Sourcing said, “Our BioMilk platform is a game-changer for the biopharmaceutical industry, The recognition and financial support from the EIC Accelerator underscore the transformative potential of our platform and its importance in addressing global healthcare challenges. Not only are we advancing our mission to make biotherapeutics more affordable with this funding, we are also creating an opportunity for Europe to position itself as a leader in the global biopharmaceutical market.”

Bio-Sourcing believes that it can play a crucial role in bolstering Europe's biopharmaceutical manufacturing sovereignty by facilitating the local production of biosimilars. This is especially crucial in view of the recent global health emergencies, which have highlighted the necessity of increased independence in essential pharmaceutical supplies.

By 2027, Bio-Sourcing will be ready to enter clinical trials for the first biosimilar created using its BioMilkTM technology thanks to a €2.5 million grant financing.

The results of these studies will be financed by the €10 million in equity that will be included in the business's next venture round. Additionally, it will be utilized to establish an industrial milk processing plant and expand the company's facilities, which will include scaling up a goat facility.

About Biosourcing

At Biosourcing, they have created a unique technical platform that allows them to produce desired proteins in the milk of committed animals. By utilizing cutting-edge methods, we transition from steel bioreactors to natural bioreactors.