NEW
YORK, May 17, 2024 /PRNewswire/ -- J.P.
Morgan Life Sciences Private Capital, Blue Horizon Advisors and
United Al Saqer Group today announced Rayees Rahman of Harmonic Discovery as the
winner of the inaugural J.P. Morgan Asset Management: Life Sciences
Innovation Summit. Harmonic Discovery is a precision pharmacology
company applying its generative chemistry platform to advance
next-generation kinase inhibitors.
In partnership with Department of Health – Abu Dhabi, the Summit took place on
May 14-15, 2024 at Cleveland Clinic
Abu Dhabi and showcased the 11 innovative finalists, as well as
highlighted existing innovators and opportunities in the Emirate of
Abu Dhabi. The event also featured keynote speeches from Dr.
Laurie Glimcher of Dana-Farber
Cancer Institute, Dr. Shahrukh
Hashmi of Department of Health – Abu Dhabi, and Dr. David Ho of Columbia
University Medical Center and provided attendees networking
opportunities to gain valuable insights into the future of life
sciences innovation.
"We are thrilled with the level of biotech passion and
innovation that we observed at this year's Summit in Abu Dhabi. The energy was truly palpable,"
said Stephen
Squinto, PhD, Chief Investment
Officer, J.P. Morgan Life Sciences Private Capital. "We are
thrilled to announce Rayees Rahman
as the winner of our first Life Sciences Innovation Summit.
Harmonic Discovery's approach embodies the next generation of drug
discovery and development. We appreciate the time and effort of all
participants and cannot wait for our next event in the region."
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as
honorable mention. Algen Biotechnologies is a platform therapeutics
and drug discovery company using world-leading CRISPR and AI to
find treatments for cancer, inflammation and metabolic
diseases.
The winners were selected by an esteemed, international panel of
judges, which included:
- Laurie Glimcher, MD, President and CEO at Dana-Farber
Cancer Institute
- Jorge Guzman, MD, CEO at Cleveland Clinic Abu Dhabi
- Prof. Shahrukh Khurshid Hashmi,
MD, Director of Research, Department of Health, Abu Dhabi
- Yasmine Hayek Kobeissi, PhD,
CQF, BSc., Executive Director at Blue Horizon Advisors
- Anya Schiess, Managing Partner
at J.P. Morgan Life Sciences Private Capital
- Walid Zaher, PhD, Co-Founder and
CEO, Carexso
"Under the directives of the UAE's wise leadership, and renowned
for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of
healthcare excellence, offering an unparalleled opportunity for
advancement in healthcare for global partners,"
commented Dr. Asma Al
Mannaei, Executive Director of Research and Innovation
Centre at the Department of Health – Abu
Dhabi. "It was our utmost pleasure hosting the J.P.
Morgan Asset Management Life Sciences Innovation Summit 2024 on the
sidelines of Abu Dhabi Global Healthcare Week and we commend the
winners for their pioneering efforts in driving impactful
advancements in healthcare; their dedication to innovation not only
transforms the landscape of medicine, but also holds the promise of
improving lives worldwide."
Sponsors for the event included J.P. Morgan Life Sciences
Private Capital, J.P. Morgan Commercial Bank, Blue Horizon
Advisors, United Al Saqer Group, Thermo Fisher Scientific, and
Salam Capital. The Summit organization, logistics and finalist
recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of
Sustainable Development at Masdar City, announced that Masdar City
Free Zone would award all 11 Finalists complimentary business
licenses to further support their establishment in the region.
Masdar City is one of the world's most sustainable urban
developments and innovation hubs with a growing focus on life
science entrepreneurship in Abu
Dhabi.
"As the main sponsor, we are committed to nurturing and
fostering the growth of all 11 finalists in this vibrant biotech
ecosystem," concluded Nabil
Kobeissi, Chief Executive Officer of Blue Horizon
Advisors. "This Summit marks the beginning of a transformative
journey, and we are confident that it will pave the way for a
flourishing hub in the region. We are also pleased to announce that
we will commit to invest in and partner with the winner, Harmonic
Discovery, to support its future growth in the region."
To learn more about the finalists and inaugural event, please
click here to visit its dedicated website.
About J.P. Morgan Life Sciences Private Capital
J.P. Morgan Life Sciences Private Capital is a venture capital and
growth equity investment team within J.P. Morgan Private Capital,
Asset Management Alternatives, founded in late 2022. The group aims
to leverage the experience of its Life Sciences Private Capital
investment team and strategic advisors, and it's relationships with
pharmaceutical and life sciences companies to support innovative
life sciences companies.
For more information: J.P. Morgan Life Sciences
Private Capital press release.
About J.P. Morgan Asset Management
J.P. Morgan Asset
Management, with assets under management of $3.2 trillion (as of 3/31/2024), is a global
leader in investment management. J.P. Morgan Asset Management's
clients include institutions, retail investors and high net worth
individuals in every major market throughout the world. J.P. Morgan
Asset Management offers global investment management in equities,
fixed income, real estate, hedge funds, private equity and
liquidity. For more information: www.jpmorganassetmanagement.com.
J.P. Morgan Asset Management is the marketing name for the asset
management businesses of JPMorgan Chase & Co., and its
affiliates worldwide.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial
services firm based in the United States
of America ("U.S."), with operations worldwide. JPMorgan
Chase had $4.1 trillion in assets and
$337 billion in stockholders' equity
as of March 31, 2024. The Firm is a
leader in investment banking, financial services for consumers and
small businesses, commercial banking, financial transaction
processing and asset management. Under the J.P. Morgan and Chase
brands, the Firm serves millions of customers in the U.S., and many
of the world's most prominent corporate, institutional and
government clients globally. Information about JPMorgan Chase &
Co. is available at www.jpmorganchase.com.
About Blue Horizon Advisors
Blue Horizon Advisors is the independent private investment arm of
a leading, multi-billion dollar single United Arab Emirates (UAE) family office. Blue
Horizon Advisors comprises of leading investment professionals in
Europe and the UAE and undertakes
global strategic investments in public markets, private markets and
real estate. Most recently, Blue Horizon Advisors established a
Life Sciences vertical ("BHLS"), with a mission to becoming a
prominent and influential force within the MENA region's thriving
life sciences sector.
BHLS is committed to enhancing health through research and
development of innovative therapies and diagnostic tools to improve
and prolong lives. BHLS is poised to execute its strategic vision
through a multifaceted approach, encompassing strategic
acquisitions, robust in-house development initiatives, dynamic
joint ventures with global industry leaders / innovators to foster
knowledge exchange, and pivotal collaborations with key
stakeholders in our ecosystem, including esteemed hospitals,
renowned universities, regulatory authorities as well as local and
global investment houses.
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SOURCE J.P. Morgan Asset Management