A view of inside the new αLab, which is set up by Shenzhen-based biotech company MGI Tech, at the Hong Kong Science and Technology Parks, Hong Kong, Sept 15, 2023. (PHOTO PROVIDED TO CHINA DAILY)
Shenzhen-based biotech company MGI has been making strides in the Middle East market this year, reaching a strategic cooperation agreement with a drug and medicine firm from the United Arab Emirates on Monday to empower local new drug research.
As one of the most developed markets in the Middle East, demand for high-quality pharmaceuticals and medical solutions is rising. According to the online statistics portal Statista, revenue in UAE’s pharmaceuticals market is projected to approach $2 billion in 2024. Last year, the UAE also initiated a national genomic strategy aimed at supporting genomic programs for enhancing public health and personalized medical needs.
With its vast potential and government support, multinational pharmaceutical companies have been increasingly active in the Middle East in recent years, while local enterprises strive to strengthen their manufacturing and research capabilities. The trend in collaboration between multinational corporations and local organizations is gradually gaining momentum.
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Prepaire Labs, an Abu Dhabi-based company focused on drug discovery and precision medicine, purchased MGI’s first corporate order of the DNBSEQ-T20×2 (T20) ultra-high throughput sequencer in the Middle East
Prepaire Labs, an Abu Dhabi-based company focused on drug discovery and precision medicine, purchased MGI’s first corporate order of the DNBSEQ-T20×2 (T20) ultra-high throughput sequencer in the Middle East. T20 is a fully automated genetic sequencer that covers all high-throughput sequencing needs in scientific research and clinical applications, while lowering genome sequencing costs to less than $100 per genome, according to MGI.
The two parties will also jointly establish an automated smart laboratory, innovate sequencing methods for complex genome analysis and explore the local market. They signed the agreement at the Medlab Middle East, a medical laboratory exhibition in the UAE.
Roy Tan, general manager of MGI Asia Pacific, said the company is committed to expanding global access to genomics through cutting-edge and high-quality platforms.
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To further connect with UAE’s life science industry, the company held its inaugural Future of Omics Research Summit in Dubai in December.
