Bio-Sourcing, a Belgian biotherapeutic startup, has secured €2.5 million in grants and €10 million in equity from the European Innovation Council (EIC) Accelerator, which has backed Mifundo and Dronamics.
Funds utilisation
The €2.5 million grant funding will enable the company to bring the first biosimilar developed from the company’s platform BioMilk to clinical trials by 2027. On the other hand, The €10 million in equity, which will be part of the company’s next venture round, will support the performance of these trials.
It will also be used to expand the company premises, including the scaling-up of a goat facility and the building of an industrial milk processing plant.
Additional biosimilars on cards
Biosimilars are medical treatments similar to previously approved biological drugs. These are very costly, posing a significant barrier to access, even after patent expiration. The bulk of these high costs is associated with traditional methods of production.
The first biosimilar from Bio-Sourcing will bring to trials is adalimumab (Humira), a widely used treatment for autoimmune diseases. The adalimumab biosimilar is expected to generate significant upfront payments and long-term royalties, which will be reinvested into further research and development. This will enable the company to scale its operations and bring additional biosimilars to market such as trastuzumab and golimumab, two other blockbuster biologics.
New-gen biotherapeutics
Founded by Bertrand Merot, Bio-Sourcing has developed a unique, sustainable and profitable platform for the production of a new generation of biotherapeutics, in particular monoclonal antibodies. Its platform is based on the production of biotherapeutics in goat’s milk using genome editing and nuclear transfer technologies.
The company harnesses the latest advances in biotechnology and is committed to pioneering research. Its BioMilk platform leverages the power of molecular biology and natural bioreactors to unlock new possibilities in biotherapeutic development and production.
As per the company, its BioMilk platform leverages the natural ability of goats to produce complex proteins in their milk. This method is five times more cost-effective than traditional approaches and significantly reduces the environmental footprint of production.
Why is it important?
The BioMilk platform allows large volume production with limited capital expenditure while being five times more efficient than traditional pharmaceutical approaches in reducing production costs and carbon footprint.
The significance of Bio-Sourcing’s BioMilk platform extends beyond cost reduction. By enabling the domestic production of biosimilars, it sees an acute role in contributing to Europe’s sovereignty in biopharmaceutical manufacturing. This is important in light of recent global health crises, which have underscored the need for greater self-sufficiency in critical pharmaceutical supplies.
“Our BioMilk platform is a game-changer for the biopharmaceutical industry,” said Dr. Bertrand Merot, founder and CEO of Bio-Sourcing. “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.”
