Abu Dhabi’s Mubadala and G42 ink deal for biopharmaceutical campus

Abu Dhabi’s Mubadala and G42 ink deal for biopharmaceutical campus

Posted on 10 January 2022

New manufacturing facility will aim to strengthen regional supply chains, which have been thrown into disarray by the Covid-19 pandemic

Abu Dhabi’s Mubadala investment fund and UAE-based AI and cloud computing company G42 have inked a deal to establish a biopharmaceutical manufacturing campus in the UAE capital, state media WAM reported.

The new manufacturing facility will aim to strengthen regional supply chains, which have been thrown into disarray by the Covid-19 pandemic.

“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,” WAM reported.

With the UAE looking for industry to contribute AED300 billion to the GDP by 2031, the facility will also help push forward the UAE’s economic diversification agenda.

The Biopharma Campus will focus on end-to-end manufacturing of biologics and host anchor partnerships with Contract Manufacturing and Development Organisations (CDMOs).

SOURCE: arabianbusiness.com

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