UAE, Israel companies agree to collaborate on COVID-19 related R&D

By Backend Office, Desk Reporter
UAE Israel deal Image
The leaders of both the companies after signing the agreement

The Emirates company APEX National Investment has announced its signing of a strategic commercial agreement to develop research and studies on the novel corona virus (COVID-19) with the Israeli company, TeraGroup.

The agreement was signed by APEX National Investment’s Chairman Khalifa Yousef Khouri and TeraGroup’s Chairman & CEO Oren Sadiv at a press conference held at the Al Qudra Holding headquarters in the Abu Dhabi Emirate.

The deal comes soon after Israel and the UAE announced an agreement that will lead to full normalization of diplomatic relations between the two states.

The agreement aims at conducting and enhancing corona virus-related research and studies, as well as developing a COVID-19 testing device to help speed up the testing process, facilitate it, and provide high accuracy to all in line with best international practices.

“We are delighted with this cooperation with TeraGroup, which is considered the first business to inaugurate trade, economy and effective partnerships between the Emirati and Israeli business sectors, for the benefit of serving humanity by strengthening research and studies on the novel corona virus (COVID-19),” said Khalifa Yousef Khouri.

In addition to members of the Emirates and Israeli media, Ido Berniker, a representative of First Capital Group, and a number of dignitaries and officials from the two companies attended the meeting.

About APEX National

APEX National Investment is a public investment firm, dedicated to establishing field hospitals at maximum speed and to equipping them with the necessary high-standard equipment. In addition to gathering field data to support laboratories with their research and studies to develop the desired vaccine to combat the corona virus pandemic, the company also contributes to the creation of solutions to implement the precautionary measures required to fight the spread of corona virus.

About TeraGroup

Founded in 2003, TeraGroup branched out of Israel’s distinguished Weizmann Institute of Science, and has research & development investments with several world-renowned scientists. As a deep technology company, TeraGroup focuses on fast and safe, 1-minute COVID-19 breathing tests using Tera sensing, which ensures immediate cost-effective results.