Riyadh, 31 October 2023: In a landmark development, the Bio Investments Group has officially joined forces with Saudi Arabia’s government, sealing the partnership with a Memorandum of Understanding (MoU) signed in the presence of HE. Excellency Fahd bin Abdurrahman Al-Jalajel, Minister of Health, HE. Khalid A. Al-Falih, Minister of Investments, and HE. Bandar Alkhorayef, Minister of Industry & Mineral Resources. HE. Dr. Ahmed Al Saidi, former Minister of Health of Oman and currently the Chairman, The Bio Investments MENA, conveyed the Group's privilege in actively contributing to the Kingdom's Vision 2030. This strategic alliance aims to expedite the Kingdom’s self-reliance in biologics, and in vitro diagnostics, propelling Saudi Arabia to the forefront of healthcare innovation.

The Bio Investments Group is set to leverage its expertise and business model to establish a biotech cluster within Saudi Arabia, aiming to achieve self-sufficiency in biologics and in-vitro diagnostics, and elevate national capabilities through accelerated knowledge and innovation transfer. With plans to initiate biologics bulk manufacturing and fill & finish plants by end of 2026, this partnership marks the first phase of a comprehensive roadmap towards localisation of biologics development and manufacturing into the Kingdom, enhancing the country’s intellectual property development and global biopharma positioning.

An initial investment of 250 million USD over the next three years underscores the group’s commitment to this initiative, foreseen to create more than 1,400 high end jobs and attract a host of strategic biopharma partners and stakeholders to the Kingdom.

The Bio Investments Group is proud to be a key player in the Kingdom’s healthcare delivery transformative journey. By bringing these manufacturing capabilities closer to home, the Group is bridging gaps, breaking barriers, and creating a healthcare ecosystem that is resilient, cost-efficient, and above all, patient-centric.