Bio-Sourcing, a Liege, Belgium biotherapeutic company, received €2.5M in grants and €10M in equity from the European Innovation Council (EIC) Accelerator.
The €2.5M grant funding will enable Bio-Sourcing to bring the first biosimilar developed from the company’s platform BioMilk™ to clinical trials by 2027. The €10M 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.
Led by Dr. Bertrand Merot, founder and CEO, Bio-Sourcing specializes in producing biotherapeutics, in particular monoclonal antibodies, in the milk of specialized goats. Its BioMilk platform leverages the natural ability of goats to produce complex proteins in their milk.
The first biosimilar the company 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 Bio-Sourcing to scale its operations and bring additional biosimilars to market such as trastuzumab and golimumab, two other blockbuster biologics.
FinSMEs
24/09/2024