The agreement reflects Mubadala’s ambition of developing a sustainable and resilient healthcare and life science ecosystem within Abu Dhabi…reports Asian Lite News
Mubadala Investment Company PJSC (Mubadala) and G42, the leading UAE-based AI and cloud computing company, signed an agreement to establish a world-class biopharmaceutical manufacturing campus (Biopharma Campus) in Abu Dhabi that will tap into global state-of-the-art vaccine and therapeutic products to strengthen regional supply chains, and drive forward the nation’s diversification and economic growth agenda.
The Biopharma Campus will invest in and establish multiple biopharma initiatives, leveraging the expertise of Mubadala’s advanced manufacturing companies as well as G42’s leading capabilities in artificial intelligence and cloud computing. The agreement reflects Mubadala’s ambition of developing a sustainable and resilient healthcare and life science ecosystem within Abu Dhabi, further advancing the UAE’s socio-economic growth and diversification while also improving health outcomes across the nation and the wider Middle East region.
Global supply shortages and the limited amount of advanced manufacturing activity within the region has resulted in biopharmaceuticals becoming a high growth market (with 10 percent CAGR over the past five years) and a priority investment area for Mubadala within the life sciences sector. The ability of biopharmaceutical products to address previously untreatable conditions has also inspired confidence in the market’s long-term and future growth potential.
Commenting on the agreement, Musabbeh Al Kaabi, Chief Executive Officer of UAE Investments at Mubadala, said, “Through the establishment of this campus in partnership with G42 and our group companies, we are investing in innovation and reinforcing Abu Dhabi’s rapidly developing life sciences ecosystem. Bringing cutting-edge manufacturing technologies to the UAE will not only strengthen our nation’s biopharma supply chain and pandemic response, but provide opportunities for local talent development and long-term, sustainable economic growth.”
Peng Xiao, Group CEO, G42, said, “Over the years, AI and cloud computing technologies have come of age. From their humble origins in the tech sector a decade ago, today these technologies are leveraged across a wide array of industries that value speed, scalability, innovation and resilience. There is a massive opportunity for pharma and healthcare companies to leverage AI and cloud technologies to improve their processes and we at G42 are very pleased to be partnering with Mubadala to build on the respective strengths and further accelerating the development of the UAE’s life sciences ecosystem.”
The world-class Biopharma Campus will focus on end-to-end manufacturing of state-of-the-art biologics and host anchor partnerships with Contract Manufacturing and Development Organisations (CDMOs). A CDMO model enables manufacturers to work with multiple innovators, reducing product risk and enabling economies of scale.