SandboxAQ partners with Bahrain's Sovereign Wealth Fund to boost biotech development

SandboxAQ, a U.S.-based firm specializing in artificial intelligence and quantum technology, has signed a significant agreement with Bahrain's Mumtalakat, the sovereign wealth fund of Bahrain. Announced during the Future Investment Initiative in Riyadh, this partnership aims to expedite drug development and create biotech assets valued at $1 billion.

The collaboration will leverage SandboxAQ's advanced quantitative models trained in physics, chemistry, and biology to enhance drug discovery and scientific research in Bahrain. The initiative is expected to position Bahrain as a regional biotech hub, guided by a joint research committee overseeing a three-year program focused on developing new, valuable drugs.

Jack Hidary, CEO of SandboxAQ, emphasized that this partnership will enable Bahrain to create and own its own intellectual property in biotechnology, particularly for therapies addressing diseases prevalent in the region, such as diabetes and various genetic disorders. "Traditionally, the majority of biotech IP is owned in a handful of countries. This enables Bahrain to develop its own assets, focused both on regional and global health priorities," he stated.

The agreement will utilize Bahrain's digital health datasets and hospital infrastructure to develop these therapies, with plans for clinical trials to commence in Bahrain, potentially expanding to multi-site studies.

Hidary also noted that SandboxAQ is receiving interest from other nations, including several in the Gulf region, for similar collaborations. Earlier this year, Saudi Aramco signed an agreement with SandboxAQ to utilize its models for enhancing the value of downstream products, indicating a growing trend in the region towards innovation in biotech and technology-driven healthcare solutions.