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Bahrain’s sovereign wealth fund (SWF) Mumtalakat has signed a strategic partnership with SandboxAQ, a global firm specialising in artificial intelligence and quantum techniques, to develop a biotech ecosystem in the kingdom, the two companies said on Monday.
Under the agreement, Bahrain will license SandboxAQ’s software and expertise in quantitative AI to identify and develop drug targets and novel therapeutics. The partnership is expected to generate over $1bn in value for the kingdom through the creation of new biotech assets.
The collaboration aims to position Bahrain as a regional biotech hub, with a joint research committee overseeing a three-year programme focused on developing new drugs.
Mumtalakat, SandboxAQ partnership to support bahrain’s health sector
“This partnership with SandboxAQ marks a significant milestone in our mission to diversify Bahrain’s economy and foster a thriving health sector,” said Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat. “By combining our national resources with SandboxAQ’s world-class 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.”
Jack Hidary, CEO of SandboxAQ, said: “We are honoured to partner with Mumtalakat and Bahrain to catalyse a new IP-generating biotech economy. Our collaboration will harness the power of AI to accelerate drug discovery and will attract more investment to the kingdom.”
Mumtalakat said the initiative aligns with its broader strategy to optimise, enhance, and diversify its portfolio, supporting long-term sustainable returns.
The SWF holds stakes in over 50 commercial enterprises across sectors including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products, healthcare, and education.
SandboxAQ, which emerged from Alphabet Incas an independent company, develops solutions using AI and quantum techniques across life sciences, materials, and other sectors.
Its investors include funds advised by T. Rowe Price Associates, Paladin Capital, BNP Paribas, Eric Schmidt, Ray Dalio, and Marc Benioff.
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