The region’s first precision medicine fair and summit opens in Dubai

DUBAI, 24th May, 2022 (WAM) — The first Precision Medicine Expo and Summit in the Middle East, coinciding with the EMERGE Gulf Health Innovation Forum, opened today for two days at the Conrad Hotel in Dubai. Thought leaders and medical pioneers from Asia, the Middle East, Europe and the United States came together to uncover new opportunities in precision medicine (PM) based on digital technology.

The event is under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence and President of the UAE Genetic Diseases Association.

More than 100 international biotech and health tech entrepreneurs will travel to Dubai to attract investment for their game-changing start-ups that they believe will lower health insurance costs, reduce hospitalization demand, reduce patient burden and improve quality of life.

Meanwhile, EMERGE GHI brings together healthcare innovators and investors through more than 300 hours of networking opportunities and helps dynamic entrepreneurs access a deep concentration of capital and knowledge from the share of global hitmakers, including representatives from some of the biggest names in the region, including Plug & Play, Hikma Ventures and Kuwait Life Sciences Company.

The event comes as global startup and venture capital intelligence platform identifies health technology as the strongest Middle East and North Africa (MENA) vertical growth in combined enterprise value since 2016, making the Dubai event a good forum at the right time.

“The health tech startup ecosystem in the MENA region is now worth more than US$1.5 billion, a 22-fold increase since 2016,” says David Stradling, event director. “Healthtech startups in the region are taking off, with over US$200 million in venture capital funding received since 2016. Annual investments in digital health infrastructure in GCC alone are expected to grow from US$0.5 billion to US$1.2 billion over the next two years, an increase of 10% to 20%, compared to 3% to 4% in previous years.

“Over the next ten years, virtual care, remote patient monitoring and artificial intelligence will account for 30% of hospital investment in the region. Much of this activity will be driven by private players. a significant opportunity for startups, as there is a need to integrate digital solutions into hospitals to optimize outcomes and workforces.

“With the emergence of the pandemic accelerating the pace of innovation, there has never been greater sense of urgency and need for a new platform to advance healthcare. Domestic investors and foreigners are striving to push health technology in the MENA region, raising US$930 million in dedicated funds since 2020, and this is just the beginning. EMERGE GHI will lead the way in filling this future need for health care.”

Thanks to the dynamic innovators from around the world who have made the journey to Dubai, EMERGE GHI will offer attendees an in-depth view of the future of healthcare. US company BioSapien Inc. is seeking partners for its 3D-printed biodegradable implantable mesh, intended to deliver FDA-approved drugs directly to cancer cells, with the aim of reducing harmful side effects and costs. CEO and Founder Khatija Ali believes the UAE offers partnership opportunities for biotech breakthroughs and expects her MediChip to resonate with investors.

“Current cancer treatment modalities do not match the capabilities of today’s technologies. There is a need to rethink the way we deliver cancer care, and potentially other drugs. We are starting with local chemotherapy , so as to avoid dose-limiting toxicities. This is no small feat, and we want to find thinkers who see the big picture. Ultimately, we are looking for funding commitments for a successful launch of the A-series that will help bring our technology closer to patients,” Ali said.

EMERGE GHI is co-located with PrecisionMed Expo and Summit – the first and only exhibition and summit in the Middle East dedicated to the field of precision medicine (PM) based on digital technology. The event will bring together more than 70 international experts, thought leaders and medical pioneers from Asia, the Middle East, Europe and the United States, who will provide an incisive insight into the new methodology that takes health care from a “one-size-fits-all” approach to a targeted and personalized approach.

Translated by: Gihane Fawzi.

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The region’s first precision medicine fair and summit opens in Dubai

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