Riyadh – Sharikat Mubasher: Ibrahim Alnajashi, Chairman of Najashi Holding, announced a strategic partnership with the Boston-based Y-Innovation Group involving a $500 million investment in Saudi Arabia’s biotechnology sector.

The announcement was made during the BMG Forum at the London Stock Exchange, where Alnajashi said the partnership aligns with Saudi Arabia’s Vision 2030 and the national biotechnology strategy to establish the Kingdom as a regional biotech hub by 2030 and a global hub by 2040.

Alnajashi said Najashi Holding is among the regional companies providing technical support to the pharmaceutical and health technology sectors, and that the group works through international partnerships to attract advanced technologies to the Kingdom.

The partnership will focus on attracting and supporting 25 biotechnology companies, while also advancing projects in advanced biological and oral therapies, medical devices, artificial intelligence, local vaccine manufacturing, and clinical research.

Alnajashi said the biotechnology sector offers both economic and social benefits, contributing to the growth of a knowledge-based economy and helping to create a new generation of Saudi companies focused on research and innovation.

He added that Saudi Arabia has implemented significant health-sector reforms under Vision 2030, making the Kingdom an increasingly attractive destination for foreign investment and regional headquarters.

According to Alnajashi, work on the partnership began about six months ago. He said additional announcements are expected before the end of the year, including initiatives related to local vaccine production and the expansion of clinical studies in cooperation with research centers and hospitals across the Kingdom.