Collaboration of Xlife Sciences and the Department of Health – Abu Dhabi to drive global innovations in the life sciences sector

Xlife Sciences AG / Key word(s): Strategic Company Decision

17-Aug-2023 / 09:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Abu Dhabi, United Arab Emirates, 16^th of August 2023: Xlife Sciences AG (SIX: XLS) signed a Memorandum of Understanding (MoU) with the regulator of the healthcare sector in the Emirate Abu Dhabi, the Department of Health – Abu Dhabi (DoH). This signed agreement, formalized at the Department's central headquarters, aims to directly enhance patient experiences within the Emirate through a targeted focus on three crucial pillars: empowering and bolstering innovation, utilizing the Xlife Sciences AG working model, and driving forward research and clinical trials. Moreover, this MoU aligns seamlessly with the Department of Health's endeavors to position Abu Dhabi as a worldwide nexus for healthcare and health sciences. Its effects will be felt on multiple fronts, elevating innovation, enhancing health services, and augmenting treatment options accessible to patients across Abu Dhabi and associated markets.

The MoU was signed by Oliver R. Baumann, Chief Executive Officer and Member of the Board of Directors of Xlife Sciences AG and Dr. Asma Ibrahim Al Mannaei, Executive Director of Research and Innovation Centre at the Department of Health – Abu Dhabi.

The dynamic partnership between Xlife Sciences AG and the DoH is focused on empowering innovators in the field by offering hands-on incubation training, personalized mentoring, and robust support. The collaboration between Xlife Sciences and DoH creates a funding structure backed by local Abu Dhabi ecosystem partners to drive growth in existing Xlife Sciences AG projects as well as upcoming innovations. Finally, the collaboration extends its impact to pioneering research and clinical trials, actively propelling forward this vital aspect of healthcare advancement within the Emirate.

In order to strengthen this MoU, Xlife Sciences AG has joined forces with ICEBERG Capital, a key player based in Abu Dhabi Global Market («ADGM») and regulated by the Financial Services Regulatory Authority («FSRA»).

On this occasion, Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi (DoH) said: “We are delighted to be collaborating with an esteemed partner such as Xlife Sciences AG to further cement the Emirate’s position as a global life sciences hub and incubator for healthcare innovation. We remain committed to addressing global healthcare challenges through the formation of strategic partnerships and the utilization of our collective strengths to benefit the global community. We seek to reinforce the development of Abu Dhabi’s life sciences sector and providing the community with support in scientific research and improvement of the healthcare sector”.

Abdullah Al Weshah, Managing Director - ICEBERG Capital commented on the collaboration: “We are excited to be part of this collaboration between the UAE Department of Health (DoH) and Swiss based Xlife Sciences AG aiming to relocate Xlife Sciences-supported startups to Abu Dhabi. ICEBERG Capital is keen on supporting the Abu Dhabi Life Sciences ecosystem and looking forward to establishing a joint funding framework to support the startups, founders and projects. ICEBERG and Xlife Sciences AG will also form a joint selection board to evaluate the startups for funding, provide incubation training, mentoring, and helping develop market-ready solutions”.

Oliver R. Baumann, Chief Executive Officer and Member of the Board of Directors of Xlife Sciences AG, commented: "We are elated to announce a strategic alliance with the esteemed Department of Health Abu Dhabi alongside the enterprising ICEBERG Capital. Demonstrating our steadfast commitment, Xlife Sciences AG has strategically established a forward-looking subsidiary in the bustling heart of Abu Dhabi. Through streamlined project transfers, expedited advancements, and synergistic partnerships, we are poised to elevate our existing initiatives to a global echelon. Anticipate an expedited trajectory towards the realization of our ambitious growth targets, fortified by the strategic prowess of our valued and highly regarded partners".

This milestone marks a highly strategic advance in Xlife Sciences AG ambitious growth trajectory, underscoring a crucial move towards expanded global presence and scalability. Xlife Sciences AG is proud to have forged a formidable alliance with the Department of Health and the dynamic landscape of Abu Dhabi, ensuring the sustained evolution of projects well beyond the proof-of-concept phase. This junction presents a momentous opening, supported by the expertise and ingenuity of the Xlife Sciences AG team, to not solely enhance ongoing projects but also to foster synergistic collaborations. This joint effort is strategically positioned to introduce essential technologies and pioneering methodologies to the global stage, effectively tackling crucial medical priorities on an international level.

Financial calendar 

Half-Year Report 2023 September 21, 2023 

Contact 

Information for journalists: IRF Reputation AG, Valentin Handschin, handschin@irf-reputation.ch 

Information for investors: Xlife Sciences AG, Dr. Dennis Fink, dennis.fink@xlifesciences.ch  

Xlife Sciences AG, 
Talacker 35, 
8001 Zurich, 
Switzerland,
Phone +41 44 385 84 60
info@xlifesciences.ch, www.xlifesciences.ch, 
Commercial Register Zurich CHE-330.279.788 
Stock Exchange: SIX Swiss Exchange