Emirati, Israeli companies sign R&D agreement to fight COVID-19
The agreement covers COVID-19 research and development of a fast, accurate testing method
Abu Dhabi: The Emirates company APEX National Investment has announced the signing of a strategic commercial agreement with the Israeli TeraGroup to develop research and studies on the novel coronavirus (COVID-19).
The agreement was signed by Khalifa Yousef Khouri, Chairman of APEX National Investment, and Oren Sadiv, Chairman & CEO of TeraGroup at a press conference held at the headquarters of Al Qudra Holding in the Emirate of Abu Dhabi. The conference was attended by Ido Berniker, a representative from First Capital Group, and a number of dignitaries and officials from the two companies, in addition to representatives of the Emirati and Israeli media.
Commenting on this agreement, Khalifa Yousef Khouri, said: "We are delighted with this cooperation with TeraGroup, which is considered the first business to inaugurate trade, economy and effective partnerships between the Emirati and Israeli business sectors, for the benefit of serving humanity by strengthening research and studies on the Novel Coronavirus (COVID-19)."
TeraGroup’s Oren Sadiv commented: "We are thrilled with our agreement with APEX National Investment and hope that we will achieve the objectives outlined in this agreement, which in turn will benefit everyone economically, specifically in these exceptional circumstances with the spread of the Novel Coronavirus (COVID-19) around the world."
Ido Berniker, a representative from First Capital Group, said: "I would like to thank H.E. Khalifa Yousef Khouri and Mr. Oren Sadiv and we are pleased with the signing of this commercial agreement between APEX National Investment, which specializes in investments and scientific fields in Abu Dhabi, and TeraGroup, a global leader in Terahertz field. At First Capital Group, we are very keen on bringing companies specialized in sciences and inventions together to establish commercial and investment partnerships with Emirati companies, such as APEX National Investment."
The agreement between the two companies aims at conducting and enhancing research and studies related to the novel coronavirus (COVID-19), as well as developing a coronavirus testing device to contribute to speeding up the testing process, facilitating it, and providing it with high accuracy and high throughput to everyone in accordance with the best international practices.
APEX National Investment is an investment company in the field of public investments, including the healthcare sector with a dedicated focus on establishing field hospitals at maximum speed and equipping them with the necessary high-standard equipment. The company also contributes to creating solutions to implement the precautionary measures necessitated by the spread of Coronavirus, in addition to gathering field data to support laboratories with their research and studies to develop the desired vaccine to fight the Coronavirus pandemic.
Established in 2003, TeraGroup branched out of the distinguished Weizmann Institute of Science in Israel, and has investments in Research & Development with many world-renowned scientists. A deep technology company, TeraGroup focuses on fast and safe, 1-minute COVID-19 breathing tests using Tera sensing, which guarantee immediate cost-effective results and contribute to the safe returning to normal of business in different sectors.
TeraGroup’s BioSafety testing is conducted in selected countries around the world, including the Emirates Field Hospital in Abu Dhabi, with plans to expand the testing to cover the entire UAE.