Bahrain’s sovereign wealth fund Mumtalakat has partnered with US-based technology company SandboxAQ with the collaboration expected to create more than $1 billion in value for the kingdom through new biotech assets.
The three-year collaboration aims to use artificial intelligence and quantum technology to accelerate drug discovery and position Bahrain as a regional hub for advanced life sciences, Mumtalakat said in a statement on Monday. SandboxAQ, which emerged from Alphabet as an independent company in 2022, offers AI solutions to support sectors such as life sciences, financial services, navigation and cyber.
Under the agreement, Bahrain will license SandboxAQ’s AI-powered molecular simulation and modelling software to identify and develop new drug targets. A joint research committee will guide the project, as Bahrain aims to build a biotechnology ecosystem amid efforts to expand into high-value sectors beyond oil.
By combining Bahrain's national resources with SandboxAQ’s expertise in AI and large quantitative models to create "new and innovative drugs, we are laying the foundation for a new era of innovation in the health sector and economic growth in the kingdom", said Sheikh Abdulla bin Khalifa, chief executive of Mumtalakat.
The move reflects a broader regional push to localise pharmaceutical research and attract investment in biotechnology, an industry that governments across the Gulf have identified in national diversification plans, including the UAE’s National Strategy for Advanced Industries and Saudi Arabia’s Vision 2030.
Governments are also establishing biotech research hubs and regulatory frameworks to support home-grown research and development and reduce dependence on imported pharmaceuticals.
Saudi Arabia has launched large-scale life sciences zones under Neom and the King Abdullah University of Science and Technology, while the UAE is expanding research clusters through Dubai Science Park and Abu Dhabi’s AgriFood Growth and Water Abundance cluster.
The establishment of Insilico Medicine’s generative AI and quantum computing research and development centre in Abu Dhabi in 2023 also marked the region’s largest AI-powered biotechnology research centre.
Mumtalakat's partnership aligns with Bahrain’s broader vision to grow high-tech industries including health technology, life sciences and advanced manufacturing.
Jack Hidary, chief executive of SandboxAQ, said the partnership would "catalyse a new IP-generating biotech economy" in Bahrain. "Our collaboration will harness the power of AI to accelerate drug discovery and will attract more investment to the kingdom," he added.
The partnership supports also Mumtalakat’s strategy to diversify its portfolio for long-term, sustainable returns, the company said.
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Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
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