# Bio-Sourcing

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bio-sourcing

- Industry: Pharmaceuticals
- Headquarters: Liege, Belgium
- Website: www.bio-sourcing.com
- Total disclosed funding: $3.1M
- Latest round: Series A (Aug 6, 2014)
- Investors on record: 6

## About

Bio-Sourcing, based in Belgium, produces biopharmaceuticals utilizing genetically modified goats' milk as a natural bioreactor. Their innovative approach focuses on sustainable biotherapeutic production through advanced genetic techniques.Bio-Sourcing specializes in biopharmaceutical production, established in 2014 in Liege, Belgium. The firm has completed 3 deals, with the most recent funding round on September 24, 2024, during which they raised EUR 10.000 mn from the European Innovation Council, totaling EUR 10.000 mn raised. The CEO, Bertrand Mérot, leads the company in its mission to advance health solutions.Bio-Sourcing specializes in the production of biopharmaceuticals through a proprietary technological platform that harnesses the milk of genetically modified goats as a natural bioreactor. The core product offerings include fully human monoclonal antibodies and other biotherapeutics achieved via advanced gene-editing techniques such as CRISPR-Cas9 combined with nuclear transfer and reproductive technology. This innovative approach shifts biopharmaceutical production from traditional steel bioreactors to a more sustainable and efficient model, resulting in a significant reduction in production costs and carbon footprint. The primary end-users of these biopharmaceuticals are healthcare providers and institutions that require access to life-saving medications, particularly monoclonal antibodies. Bio-Sourcing aims to serve both Western and emerging economies, addressing critical public health needs and enhancing the global accessibility of biotherapeutics.Bio-Sourcing's revenue model is primarily built around co-development and co-ownership of biopharmaceutical products with industry partners, enabling early income and long-term royalty revenues. The company engages in partnerships with governments and pharmaceutical firms, facilitating transactions that focus on producing large volumes of biopharmaceuticals while preserving or increasing gross margins for its clients. Such partnerships may involve direct agreements for the supply of bulk biopharmaceuticals or collaborative projects to develop new therapies. The pricing structure reflects the unique capabilities of their BioMilk Platform, supporting scalability and adaptability to market demands. This model promotes sustainable practices while ensuring a steady revenue stream through ongoing collaborations in the biopharmaceutical sector.In September 2024, Bio-Sourcing raised EUR 2.5 million in grant funding from the European Innovation Council as part of a larger EUR 12.5 million grant and equity funding. The company plans to utilize this funding to advance clinical trials for its adalimumab biosimilar, expand its goat facility, and build an industrial milk processing plant. Furthermore, Bio-Sourcing aims to penetrate new markets, particularly targeting regions with high demand for biotherapeutics by the end of 2026.

## Funding rounds

- Series A, Aug 6, 2014, $3.1M — Ardian, Nausicaa Ventures, Noshaq, Spinventure, Agipi Innovation, Financière Spin-Off Luxembourgeoise

## Investors

- Ardian (https://capitalatlas.ai/funds/ardian) — Series A
- Nausicaa Ventures (https://capitalatlas.ai/funds/nausicaa-ventures) — Series A
- Noshaq (https://capitalatlas.ai/funds/noshaq) — Series A
- Spinventure (https://capitalatlas.ai/funds/spinventure) — Series A
- Agipi Innovation — Series A
- Financière Spin-Off Luxembourgeoise — Series A