- This partnership aligns with Abu Dhabi’s efforts to cement itself as a global life sciences hub and a research and innovation healthcare incubator
Abu Dhabi, United Arab Emirates, 30 August 2023: The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Xlife Sciences, a Swiss company that focuses on the value development and commercialization of promising early-stage biotech and med-tech research projects. The agreement, signed at the Department’s Headquarters, seeks to benefit patients in the Emirate by working on three strategic key pillars consisting of innovation enablement and support, enhancing financing opportunities to support life sciences start-ups and projects in Abu Dhabi, and clinical research and trials. The MoU further supports DoH’s efforts in establishing Abu Dhabi as a global hub for healthcare and lifesciences while enhancing innovation, health services, and treatment available to patients within Abu Dhabi.
The MoU was signed by Dr. Asma Ibrahim Al Mannaei, Executive Director of Research and Innovation Centre at the Department of Health – Abu Dhabi and by Oliver R. Baumann, Chief Executive Officer and Member of the Board of Directors of Xlife Sciences.
The collaboration between DoH and Xlife Sciences aims to support the development of Abu Dhabi’s life-sciences sector by providing incubation training, mentoring, and commercialization support to innovators. Furthermore, the partnership will explore the opportunity to establish a joint funding framework with local ecosystem partners to support life science start-ups and projects while also collaborating to drive clinical research and clinical trials in the Emirate. The agreement further cements Abu Dhabi’s position as a global life sciences hub and an incubator for healthcare innovation while spearheading the transformation of the regional healthcare ecosystem through leveraging sciences and technology.
Xlife Sciences AG has incorporated their UAE presence through partnering with ICEBERG Capital, a company based in Abu Dhabi Global Market (ADGM) and regulated by Financial Services Regulatory Authority (FSRA). As one of Abu Dhabi’s fastest growing alternative asset management firms, ICEBERG Capital will be collaborating with Xlife Sciences Abu Dhabi handling the company’s investment strategy and fund management, in support and enhancement of the Abu Dhabi life sciences ecosystem.
On this occasion, Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi (DoH) said: “We are delighted to be collaborating with an esteemed partner such as Xlife Sciences to further cement the Emirate’s position as a global life sciences hub and incubator for healthcare innovation. We remain committed to addressing global healthcare challenges through the formation of strategic partnerships and the utilization of our collective strengths to benefit the global community. We seek to reinforce the development of Abu Dhabi’s life sciences sector and providing the community with support in scientific research and improvement of the healthcare sector.”
Oliver R. Baumann, Chief Executive Officer and Member of the Board of Directors of Xlife Sciences, commented: “We are elated to announce a strategic alliance with the esteemed Department of Health – Abu Dhabi alongside the enterprising ICEBERG Capital. Demonstrating our steadfast commitment, Xlife Sciences has strategically established a forward-looking subsidiary in the bustling heart of Abu Dhabi. Through streamlined project transfers, expedited advancements, and synergistic partnerships, we are poised to elevate our existing initiatives to a global echelon. Anticipate an expedited trajectory towards the realization of our ambitious growth targets, fortified by the strategic prowess of our valued and highly-regarded partners.”
Abdullah Al Weshah, Managing Director – ICEBERG Capital commented on the collaboration: “We are excited to be part of this collaboration between the Department of Health – Abu Dhabi (DOH) and Swiss based Xlife Sciences AG aiming to relocate Xlife Sciences-supported startups to Abu Dhabi. ICEBERG Capital is keen on supporting the Abu Dhabi Life-Sciences ecosystem and looking forward to establishing a joint funding framework to support the startups, founders and projects. ICEBERG and Xlife Sciences will also form a joint selection board to evaluate the startups for funding, provide incubation training, mentoring, and helping develop market-ready solutions.”