Saudi Arabia-based Dammam Valley has partnered with Arcensus GmbH and other investment partners to establish a high-throughput Saudi-German Genomic Center in Riyadh.
The Saudi-German Genomic Center will begin operations immediately, providing comprehensive genomic diagnostic services for the GCC region based on exclusive next-generation sequencing technologies.
According to the statement, “Based on the expertise of a cross-functional, international team of geneticists, medical experts, and data scientists, the Riyadh center will reflect one of the world’s most innovative genetic biotechnology organizations, provide its knowledge to clinical colleagues, collaborate with all medical decision-makers, and support the further improvement of the Saudi healthcare infrastructure in line with the Saudi Health Vision 2030.”
The initiative to establish this state-of-the-art genomic center stems from the Kingdom’s goal to accelerate the implementation of genetic testing for the early diagnosis of diseases, particularly cancer and rare genetic disorders, but also address the preventive element in personalized medicine.
The financial investment led by Dammam Valley will enable the partners to penetrate regional markets faster with their innovative solutions.
“The establishment and short-term opening of a state-of-the-art genetic center is a central part of the Saudi Vision 2030 and a key element to establishing knowledge and expertise in the region. Furthermore, it is a crucial element in the continuous improvement of the regional healthcare systems to the benefit of the entire population. All the knowledge we accumulate here will be used in the next step for the strategic development of a dynamic and vital pharmaceutical and biotech scene. We are pleased to have Arcensus GmbH as an internationally experienced partner at our side. Especially for the Arab world, it is a great pleasure to have Dr. Arndt Rolfs, a highly accomplished, experienced, and visionary multi-entrepreneur as a partner.”
Under the terms of the agreement, Dammam Valley along with other investors will make a substantial investment in establishing the Saudi-German Genomic Center.
As per the statement, the parties agree that Arcensus will fully operate the center. The integrity of the protected patient data will be maintained, as will the dedicated sales, marketing, and life science business activities.
Dr. Arndt Rolfs, Arcensus Founder, and CEO said that, “Especially after Dammam Valley’s investment in the company I founded in 2020, Arcensus GmbH, it is a logical and purposeful step to go along the path of establishing a regional center for improving genomic diagnostics with such a proven and reliable partner.”
“The Arab countries have the challenge of improving the early and targeted diagnosis of the numerous genetic diseases. But exactly this knowledge, which can be developed here with the local medical partners, can also serve to establish a dynamic and creative regional and, in a further step, international biotech scene,” Dr. Rolfs added.
Related: Saudi’s Dammam Valley acquires Germany’s digital healthcare firm Arcensus