Manama, Oct. 27 (BNA): SandboxAQ, a world leader in artificial intelligence and quantum techniques, and Bahrain Mumtalakat Holding Company (“Mumtalakat”), the Kingdom of Bahrain’s sovereign wealth fund, announced their strategic alliance to spark a cutting-edge biotech ecosystem in the Kingdom.
Mumtalakat, SandboxAQ announce strategic partnership to catalyse Bahrain’s biotech ecosystem
In order to find and create targets and innovative treatments, Bahrain is licensing SandboxAQ’s software and quantitative AI knowledge. It is anticipated that the partnership will generate new biotech assets worth more than $1 billion for the Kingdom.
With a collaborative research committee overseeing a three-year program targeted at creating useful new medications, the partnership will help establish Bahrain as a regional biotech hotspot.
The CEO of Mumtalakat, Shaikh Abdulla bin Khalifa Al Khalifa, stated that collaborating with SandboxAQ is a significant step in the effort to diversify Bahrain’s economy and develop a robust health sector. He clarified that they are laying the groundwork for a new era of innovation in the health sector and accelerating economic growth in the Kingdom by fusing Bahrain’s domestic resources with SandboxAQ’s worldwide experience in AI and huge quantitative models for creating new medications.
The CEO of SandboxAQ, Jack Hidary, adding that it was an honor to collaborate with Mumtalakat and the Kingdom of Bahrain to promote a new biotech economy that generates intellectual property. He affirmed that the partnership will use artificial intelligence (AI) to speed up drug research and draw more capital to the Kingdom.
In order to ensure sustainable long-term financial returns, this cooperation is in line with Mumtalakat‘s strategy and continuous efforts to optimize, enhance, and diversify its portfolio.
