Bahrain's Sovereign Wealth Fund Mumtalakat Partners with U.S. AI Firm SandboxAQ to Secure Biotech IP Leadership Through AI-Driven Drug Discovery

Source:财联社

Cailian Press, October 28 (Editor Liu Jingyi)SandboxAQ, a U.S.-based AI and quantum technology company, signed an agreement with Mumtalakat, Bahrain's sovereign wealth fund, on Monday to accelerate drug discovery using AI and create biotech assets worth $1 billion.

The cooperation agreement announced during the Future Investment Initiative Summit in Riyadh will enable Mumtalakat to obtain a license for SandboxAQ’s quantitative large models trained in physics, chemistry, and biology, to accelerate drug discovery and scientific research.

Both parties stated in the announcement that this collaboration will help Bahrain become a biotechnology hub in the region, and a three-year new drug development plan led by the Joint Research Committee will be implemented.

SandboxAQ CEO Jack Hidary stated that the collaboration will empower Bahrain to independently create and master biotechnology intellectual property, including treatment solutions for regionally prevalent diseases such as diabetes and certain hereditary conditions.

Hidary pointed out that, traditionally, most biotechnology intellectual property has been controlled by a few countries. This collaboration will support Bahrain in independently developing biotechnology assets focused on regional and global health priorities.

The agreement will leverage Bahrain's digital health datasets and medical infrastructure to develop treatment protocols. According to the agreement, clinical trials are expected to be initiated in Bahrain and may expand to multi-center studies.

Hidary revealed that SandboxAQ is attracting other countries, including Gulf states, seeking similar cooperation.

In January this year, Saudi oil giant Saudi Aramco signed an agreement with SandboxAQ to use its model to enhance the added value of downstream products.

(Cailian She, Liu Jingyi)

Editor: Yu Jian SF069