September 25, 2024,Liege, Belgium : Bio-Sourcing, a pioneering Belgian biotherapeutic company, announces today the award of €2.5M in grants and €10M in equity from the European Innovation Council (EIC) Accelerator.
The funding will enable Bio-Sourcing to bring the first biosimilar adalimumab (Humira), a widely used treatment for autoimmune diseases to clinical trials by 2027. Adalimumab 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.
“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.”
Bio-Sourcing specializes in producing biotherapeutics, in particular monoclonal antibodies, in the milk of specialized goats. Bio-Sourcing’s 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.
The strategic significance of Bio-Sourcing’s BioMilk platform extends beyond cost reduction. By enabling the domestic production of biosimilars, Bio-Sourcing sees an acute role in contributing to Europe’s sovereignty in biopharmaceutical manufacturing. This is particularly important in light of recent global health crises, which have underscored the need for greater self-sufficiency in critical pharmaceutical supplies.
Bio-Sourcing will also expand the company premises, including the scaling-up of a goat facility and the building of an industrial milk processing plant.