|To perform high-throughput analysis of genetic samples from GCC region, to improve the medical healthcare system|
ROSTOCK, Germany & DAMMAM, KSA, Sept 8, 2022 - (ACN Newswire) - Dammam Valley, in partnership with other investment partners, and Arcensus GmbH announce the establishment of a high-throughput Saudi-German Genomic Center in Riyadh. The Saudi-German Genomic Center will start operationally with immediate action and provide comprehensive genomic diagnostic services for the GCC region based on exclusive next-generation sequencing technologies.
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. In addition, the partners believe that with the global adoption of Whole Genome Sequencing as the first line of genetic testing, the genomic era will begin in full force and conquer the molecular medicine market in a short period of time.
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.
Dr. Abdulrahman Al-Olayan, CEO of Dammam Valley said, "The establishment and short-term opening of such a state-of-the-art genetic center is central part of the Saudi Vision 2030 and a key element to establish knowledge and expertise in the region. Furthermore, it is a crucial element of 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/Germany 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."
Dr. Arndt Rolfs, Arcensus Founder and CEO, said, "Especially after Dammam Valley's investment in the company I have founded end of 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. We are extremely pleased to be able to contribute with our knowledge to this success in the coming years."
Under the terms of the agreement, Dammam Valley along with other investors, will make a substantial investment in establishing the Saudi-German Genomic Center. 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.
About Dammam Valley
Established in 2021, Dammam Valley is a semi government Investment company, solely owned by Imam Abdulrahman bin Faisal University, and with a raised capital of 100,000,000 SAR. It strives to be a source and destination for biotechnology innovation and healthcare in the Middle East and is the Nation's premiere hub for evaluating and incubating biotech innovations. Aiming to stimulate investment, support projects, and forge quality partnerships in the fields of Health & Biotechnology, in addition to focusing on numerous other sustainable investments in various fields of interest.
Arcensus is a digital healthcare and diagnostics company that empowers people to take control of their health. The company provides the highest-standard, secure, trusted, and comprehensive diagnostic service based on Whole Genome Sequencing. Arcensus analyses the complete genetic information in human DNA and identifies the predispositions and reasons for unclear symptoms with the help of cutting-edge bioinformatic technology, including artificial intelligence. The interpretation of the genomic data suggests better treatment options and helps individuals take preventive measures to live a healthier and longer life.
From our offices in New Jersey - United States, Rostock and Berlin - Germany, a cross-functional team of genetic experts, medical doctors, and data scientists works to make the most sophisticated and best genetic interpretation with medical and health prevention applications accessible to everyone. For more information, visit https://arcensus-diagnostics.com/.
Important Notice and Disclaimer
This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "continues," "expect," "estimate," "intend," "project," and similar expressions and future or conditional verbs such as "will," "would," "should," "could," "might," "can," and "may," are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Arcensus' actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, negative worldwide economic conditions and ongoing instability and volatility in the worldwide financial markets, the effects of the COVID-19 pandemic on our business and results of operations, possible changes in current and proposed legislation, regulations and governmental policies, pressures from increasing competition and consolidation in our industry, the expense and uncertainty of regulatory approval, including from the U.S. Food and Drug Administration, our reliance on third parties and collaboration partners, including our ability to manage growth and enter into new client relationships, our dependency on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations of our operating results due to the effect of exchange rates, our ability to streamline cash usage, our requirement for additional financing and our ability to continue as a going concern, or other factors.
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Topic: Press release summary
Source: Arcensus GmbH
Sectors: BioTech, Healthcare & Pharm
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