Belgian biotherapeutic startup Bio-Sourcing has made significant strides in the healthcare sector by securing €2.5 million in grants and €10 million in equity from the European Innovation Council (EIC) Accelerator. Known for backing innovative companies like Onego Bio earlier this year, the EIC's investment underscores Bio-Sourcing's transformative potential in the biopharmaceutical industry.
The €2.5 million in grant funding will be instrumental in advancing the first biosimilar developed from Bio-Sourcing's proprietary platform, BioMilk, to clinical trials by 2027. This biosimilar will be based on adalimumab (Humira), a widely used treatment for autoimmune diseases. The grant will cover the necessary preclinical studies, regulatory submissions, and initial phases of clinical trials, ensuring that the company can meet stringent regulatory requirements and demonstrate the efficacy and safety of its product.
Equity Investment for Expansion and Trials
The €10 million equity investment will be part of Bio-Sourcing’s next venture round, focused on scaling operations and supporting clinical trials. The funds will be used to:
Scale Up Goat Facilities: Expanding the goat farm to increase the production of biotherapeutics using BioMilk.
Build an Industrial Milk Processing Plant: Establishing a state-of-the-art facility to process biotherapeutics at an industrial scale.
Conduct Clinical Trials: Funding the comprehensive and costly clinical trial process required to bring new biosimilars to market.
This funding will also support the company's efforts to establish a robust infrastructure that can accommodate the production of additional biosimilars in the future.
Biosimilars are crucial for providing affordable alternatives to existing biologic therapies, which are often prohibitively expensive even after their patents expire. Traditional production methods are costly, making biosimilars only marginally cheaper than their branded counterparts.
Bio-Sourcing’s BioMilk platform aims to revolutionize this by significantly lowering production costs. The company’s first target is adalimumab, which is expected to generate substantial revenue through upfront payments and long-term royalties. These funds will be reinvested into research and development, enabling Bio-Sourcing to expand its biosimilar portfolio with products like:
Trastuzumab: Used in the treatment of certain types of breast cancer.
Golimumab: Utilized for autoimmune conditions such as rheumatoid arthritis and ulcerative colitis.
By focusing on blockbuster biologics with high demand, Bio-Sourcing is strategically positioning itself to capture a significant share of the biosimilar market. The company’s innovative production method offers a compelling value proposition: high-quality biosimilars at a fraction of the production cost, making these life-saving treatments accessible to a broader patient population.
The BioMilk Advantage
Founded by Dr. Bertrand Merot, Bio-Sourcing has developed a unique platform for producing a new generation of biotherapeutics, particularly monoclonal antibodies, in goat’s milk. The BioMilk platform leverages cutting-edge biotechnology, combining genome editing and nuclear transfer technologies to enable goats to produce complex proteins in their milk.
BioMilk harnesses the natural bioreactor capabilities of goats, resulting in several key benefits:
Cost Efficiency: BioMilk is five times more cost-effective than traditional cell culture methods.
Sustainability: The platform significantly reduces the environmental footprint compared to conventional biopharmaceutical production methods.
Scalability: Capable of large-volume production with relatively low capital expenditure, making it ideal for meeting global demand.
The platform’s efficiency and sustainability make it a game-changer in the industry, addressing both economic and environmental challenges associated with traditional biotherapeutic production.
Bio-Sourcing’s BioMilk platform is more than just a cost-cutting innovation; it represents a strategic shift in the biopharmaceutical landscape. By enabling the local production of biosimilars, the platform plays a critical role in enhancing Europe’s sovereignty in biopharmaceutical manufacturing. This is particularly important in the wake of recent global health crises, which have highlighted the need for 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.”
With significant backing from the EIC Accelerator, Bio-Sourcing is well-positioned to disrupt the biopharmaceutical industry with its innovative BioMilk platform. By reducing production costs and environmental impact, the company aims to make biosimilars more accessible, ultimately contributing to global healthcare equity. As Bio-Sourcing continues to scale its operations and expand its product pipeline, it is set to become a key player in the next generation of sustainable biotherapeutic development.
This funding marks a pivotal step in Bio-Sourcing's journey, bringing it closer to its vision of transforming biotherapeutic production and making high-quality treatments accessible to all.
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