Joint Venture Company in Dubai to Focus on Middle East, Africa,
Turkey and Caspian Region
v Company to Specialise in in-Licensing, Acquiring, Registering and
Commercialising Therapeutics Approved by US, European and
Japanese Drug Regulatory Authorities
Dubai-UAE: 13 February, 2011 – NewBridge Pharmaceuticals (NBP), a company
specialising in in-licensing, acquiring, registering and commercialising therapeutics
approved by the regulatory authorities in the US, Europe and Japan, was officially
launched in Dubai in the presence of regional as well as international industry and
business leaders.
A joint venture by San Francisco-based global leader in life sciences Burrill & Company,
and the life sciences arm of the National Technology Enterprises Company (NTEC), a
Kuwait Investment Authority-mandated fund, the NBP headquarters is based at the
Dubai Biotechnology and Research Park (DuBiotech), the region’s leading life sciences
park. The company will focus on the Middle East, Africa, Turkey and the Caspian
regions (AfMET).
NBP will initially specialize in oncology, endocrine and metabolic disorders (obesity and
diabetes), gastroenterology, cardiovascular and dermatology franchises. In the future,
NBP will additionally explore opportunities in OTC and point-of-care diagnostics.
Joe Henein, CEO and President of NewBridge Pharmaceuticals, said: “We are delighted
to commence our operations in Dubai as the hub for our business outreach into
the region. Our business model’s value lies in our highly professional team with
competencies in the areas of registration, medical, pharmacovigilance and commercial
capabilities acquired through years of working in multinational pharma.
“We also offer an integrated strategy of regional expertise and international access
that translates into connectivity with a wide range of partners and key stakeholders in
and out of the region, and offers a flexible approach to joint ventures and partnerships.
Finally, NewBridge is about creating a regional platform that will facilitate the
introduction of innovative products that meet the specific disease prevalence of the
region such as cancer, diabetes, and obesity.”
G. Steven Burrill, CEO of Burrill & Company and board member of NewBridge,
addressed the audience on ‘Biotech 2011 – Looking Back to See Ahead’ at the launch
event.
Burrill said: “In the next five years, the biotechnology and pharmaceutical industry in
emerging markets, including the Middle East, will contribute to more than half of the
global growth, valued at US$160 billion. And this will take their global market share to
around 25 per cent. The industry will be driven by a growing young population, a clear
policy commitment to healthcare, as well as a shift in disease trends that is creating
new demands.
“With NewBridge Pharmaceuticals, we aspire to be at the forefront of the next
generation of healthcare companies that will use innovation to reduce the burden of
disease incidence and remain an integral part of the disease management process,
while providing pre-emptive and preventive medicine.”
Qais Marafie, Assistant Vice-President – Investment Projects Life Sciences at NTEC,
and a board member of NBP, said: “Through this company, we aim to create a base
for marketing products exclusively owned by NewBridge Pharmaceuticals in the
Middle East region. In collaboration with Burrill & Company, we assessed this project
since inception and we are proud to deal with this creative team that has extensive
knowledge of the region.
“In addition, we will complement the offering of NewBridge Pharmaceuticals for future
projects in the life sciences domain. Our investments in this area currently represent
nearly one third of our total portfolio and we are looking to expand this stake while
focusing on business opportunities that offer sustainable long-term growth.”
NewBridge Pharmaceuticals will complement the industry offerings and meet niche
requirements in the Middle East, Africa, Turkey and Caspian (AfMET) market that is
approximately valued at US$33 billion and has a projected average annual growth rate
of nine per cent.
About NewBridgePharmaceuticals:
Based in Dubai, UAE, NewBridge is a specialty pharmaceutical, biologics, medical devices company serving
the emerging markets of Africa, Middle East, Turkey, and Caspian regions (collectively, AfMET) to address
the unmet medical needs in diseases with high regional prevalence such as cancer, diabetes, renal and
cardiovascular diseases and other metabolic disorders. NewBridge in-licenses and commercializes FDA and
EMA/European and Japanese -approved therapeutics. NewBridge is led by an experienced management
team and backed by top-tier investors including Burrill & Company and the National Technology
Enterprises Company.
About NTEC (National Technology Enterprises Company):
National Technology Enterprises Company (NTEC), a fully owned subsidiary of the Kuwait Investment
Authority (KIA), was established in 2002. Officially commencing operations in 2005 with a paid-up capital
of KD45 million, the company is mandated to play a vital role in servicing major stakeholders in Kuwait in
their technology needs. It invests in high potential companies that are fully developed or at the forefront
of developing new technologies which will benefit Kuwait and the entire GCC region.
About Burrill&Company:
Founded in 1994, Burrill & Company is a San Francisco-based global leader in life sciences with activities
in Venture Capital, Private Equity, Merchant Banking and Media. The Burrill family of venture capital funds
has US$1 billion under management and its merchant banking business is one of the industry leaders in
life sciences transactions.
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