Part of Medad Holding, the recently established venture will specialize in innovative manufacturing and product development in health-tech, biotech, fintechand power management
Dubai: A privately owned and funded UAE company is investing more than US$150 million in the research and development of new technologies that could pave the way for radical advances in healthcare, biotech, fintech and even sustainable mobility.
Mohammed Alshaiba Almazrouei, Chief Executive Officer of Dubai-based Medad Technology, said the company has already patented several innovations in ultrasound technology, with potentially groundbreaking applications in smoking cessation, medicine delivery and diagnostics.
“Medad Technology is committed to delivering faster, smarter and safer solutions to improve public health and quality of life, locally and internationally,” said Almazrouei.
He highlighted that Medad Technology has invested US$50 million over the past four years to develop, manufacture and test its ultrasound technology, and secure regulatory approval in the UAE and international markets.
The tech company is now introducing its patented ultrasound nicotine delivery system (UNDS) to the UAE and will invest a further US$100 million over the next three years in clinical trials, smoking cessation research and product development across sectors.
“We’re delighted that after several years of extensive research and significant investment, we are now able to start introducing our technologies to both local and international markets,” said Almazrouei, adding that the company was in advanced talks with a global partner and planning its entry strategy into Europe and the US.
“We intend to play an active role in the digital transformation currently sweeping the world, breaking down scientific barriers to promote better health and well-being for all,” he concluded.