Masdar City to Showcase Its Life Sciences Hub at BIO24 in San Diego
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
SOURCE Masdar City
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