Hub71 life sciences startups raise $463m in a year

Key Highlights

Hub71+ Life Sciences marks its first anniversary with 58 startups that raised $463 million and generated $138 million in revenue.
The ecosystem has grown its network to 15 strategic partners, including Johnson and Johnson and Mediclinic Middle East.
BioSapien raised $7.5 million led by Global Ventures and is advancing its MediChip platform towards Phase I trials.
Nabdh signed an agreement with M42, and BioTwin partnered with Abu Dhabi Biobank.
Ovasave has supported more than 10,000 women and couples and has raised $1.2 million to date.

Hub71+ Life Sciences, the specialist life sciences ecosystem run by Hub71, has marked its first anniversary with its startups raising $463 million in funding and generating $138 million in revenue.

The programme has also supported 58 startups in its first year, with companies working on new drugs, medical devices and diagnostics. The startups have raised $463 million between them since joining, and generated $138 million in revenue.

A growing ecosystem

Hub71+ Life Sciences has grown its network to 15 strategic partners, including the global healthcare company Johnson and Johnson and the hospital group Mediclinic Middle East. The partners work with startups on research, clinical trials and market access.

The programme has also helped startups connect with hospitals and other healthcare providers. The aim is to speed up the development of new treatments and medical technologies in the UAE.

Startups to watch

BioSapien, a startup developing a new way to deliver cancer drugs, has raised $7.5 million in a funding round led by Global Ventures. The company is preparing for its first clinical trial of its MediChip platform, which delivers drugs directly to tumours.

Nabdh, which is working on a new way to test for heart disease, has signed an agreement with M42 to work on the early detection and prevention of cardiovascular disease.

BioTwin, which creates digital twins of patients to help doctors choose the best treatment, has partnered with the Abu Dhabi Biobank to improve its models.

Ovasave, which offers egg freezing and fertility services, has now supported more than 10,000 women and couples, and has raised $1.2 million to date.

What it means for the UAE

The UAE continues to invest in life sciences and healthcare innovation, and to build its position as a regional hub for the sector. Hub71+ Life Sciences is one of several programmes aimed at supporting companies in the field.

What comes next

Hub71+ Life Sciences plans to continue growing its network of startups and partners, and to support more companies in the coming year.

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