Masdar City to showcase why they are the leading destination
for the life sciences sector at BIO24
ABU
DHABI, UAE, June 4, 2024
/PRNewswire/ -- Highlighting its growing status as a leading
destination for the life sciences sector, Masdar City, Abu Dhabi's flagship sustainable city in the
United Arab Emirates will be
participating at BIO24 in San
Diego to attract US organisations to expand their operations
into this unique life sciences ecosystem.
Masdar City's involvement at BIO24 aligns with the Government of
Abu Dhabi's strategic ambition -
'Abu Dhabi Vision 2030' - which prioritizes the development of the
life sciences industry as a key driver of economic diversification.
Supported by the UAE government's strategic initiatives, Masdar
City is fostering a vibrant ecosystem that promotes scientific
research, innovation, and commercialization.
Just last month, Attentive Science, a US-based research
organization specializing in preclinical testing services,
announced plans to establish a state-of-the-art facility within
Masdar City.
Mohamed Abdelrazik, Masdar City's
Director of Asset Management said, "At BIO 2024, we are proud to
showcase our life sciences industry achievements and goals. Masdar
City is a place for innovation and collaboration, where we work on
solutions for the most pressing health challenges of our time. At
Masdar City, we believe in science as a force for good in the
world. We are ready to partner with those who will help humanity
and the planet, and to share and learn from the global biotech
community. We want to work together and shape the future of life
sciences, in Abu Dhabi and
beyond."
Masdar City has successfully established itself a key global hub
for life sciences innovation. It has already attracted a range of
highly innovative organisations within the life science sector
including:
- The Abu Dhabi Department of Health and M42 announced plans to
launch the Abu Dhabi Biobank, with its first offering being
the region's largest hybrid cord blood bank based in Masdar City.
The Biobank initiative aims to shorten waiting times for treatment,
increase therapeutic access for patients, and improve survival
rates. With a capacity to store 100,000 cord blood samples and five
million pan human samples, the biobank aims to create a rich
diverse dataset that can provide ready and better matched
hemopoietic stem cells globally.
- Xlife Sciences: A Swiss company partnering with universities
and research institutes to develop novel therapeutics and
diagnostics.
- Oxford Nanopore Technologies: A UK-based company that
advances DNA and RNA sequencing technologies, supporting genomics
and precision medicine.
- Insilico Medicine: A leader in AI-driven drug discovery, known
for creating the first fully AI-generated drug candidate entering
human clinical trials.
Masdar City's life sciences cluster benefits from a unique value
proposition, including 100% foreign ownership, and streamlined
business setup processes. The city's sustainable infrastructure,
coupled with its strategic location in the UAE and wider
Middle East region, offers an
ideal environment for life sciences companies to thrive.
"The allocation of 7.6% of the UAE's Federal General Budget to
the Ministry of Health and Prevention demonstrates the government's
commitment to this sector," added Abdelrazik. "Our ecosystem is
designed to attract talent, investment, and expertise, driving
forward public-private partnerships and enhancing our global
reputation for high-quality, patient-centric healthcare."
At BIO24, Masdar City will highlight its accomplishments and
strategic vision, seeking new partnerships and investments. The
delegation, part of a broader UAE representation led by the Abu
Dhabi Department of Health and Abu Dhabi Investment Office, will
emphasize the city's role in advancing life sciences
innovation.
Masdar City invites all stakeholders in the life sciences sector
to meet its delegation at BIO24 to explore collaboration
opportunities.
About Masdar City
Masdar City is a pioneering sustainable urban community, a
world-class business and technology hub, and a "green-print" for
cities that want to be part of the solution to climate change. With
one of the largest clusters of LEED Platinum buildings in the
world, we are dedicated to creating a new kind of city, a new way
of working and living, and a more sustainable future for
everyone.
The Masdar City Free Zone is a diverse, innovative, and
ambitious group of over 1,000 organizations that benefit from
comprehensive business support as well as the city's rich
ecosystem. Tenants include the International Renewable Energy
Agency (IRENA), the UAE Space Agency, Siemens Energy, G42, the
Advanced Technology Research Council, several Fortune 500
companies, and the Mohamed bin Zayed University of Artificial
Intelligence. The Masdar City Free Zone also includes The Catalyst,
a clean-tech start-up investor powered by both Masdar City and
BP.
Masdar City hosts a growing residential community and has
piloted two generations of autonomous vehicles. It also manages the
Masdar Green REIT, a real estate investment trust dedicated to
investing in sustainable real estate assets. Currently the Masdar
Green REIT is worth nearly AED 2.9 billion. masdarcity.ae
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SOURCE Masdar City