In a significant development for cardiovascular medicine research, clinical-stage biotechnology company Cardiogeni PLC has secured a £20 million funding commitment through a memorandum of understanding with the private office of Sheikh Al Qassimi. The investment will support clinical trials and development of the company's heart failure medicines in the United Arab Emirates.
The funding structure encompasses a three-year period from 2025 to 2027, initiating with a £5 million investment in the first half of 2025. This strategic partnership will be executed through the formation of a joint venture corporation focused on advancing Cardiogeni's cardiovascular therapeutics pipeline.
Strategic Middle East Expansion
The joint venture aims to establish a comprehensive presence in the Gulf Cooperation Council (GCC) region, encompassing research and development, specialized manufacturing, clinical trials, and commercialization efforts across the UAE, Saudi Arabia, Oman, and Bahrain. The agreement includes crucial government and family office sponsorship, designed to expedite the development process in these territories.
Development Timeline and Market Impact
While the current agreement remains non-binding, negotiations for a definitive license agreement are scheduled throughout February, with plans to finalize the binding agreement by March's end. This development comes shortly after Cardiogeni's recent listing on the Aquis Stock Exchange.
Dr. Darrin Disley, Executive Chair of Cardiogeni, emphasized the strategic importance of this partnership: "The receipt of the initial funding will facilitate advancement of our innovative heart failure medicines through the ongoing randomized controlled trial in Europe and, via the JV to be formed, through pivotal human trials in a region that has both an excellent medical research eco-system and access to a market with a significant unmet need due to a high prevalence of heart failure."
Regional Healthcare Significance
The partnership strategically positions Cardiogeni to address the significant cardiovascular disease burden in the GCC region, where heart failure prevalence rates are notably high. The collaboration leverages the UAE's sophisticated medical research infrastructure while targeting a market with substantial unmet medical needs.
The agreement represents a pivotal moment for Cardiogeni following its recent public listing, with the company's stock quoted at 45.00 pence on the AQSE. This funding is expected to accelerate the development timeline of their heart failure treatments while establishing a strong presence in the Middle Eastern healthcare market.
