Saudi Arabia-based biotechnology and healthcare investment company, Dammam Valley in partnership with other investment partners, has acquired a majority stake in Germany’s Arcensus, a digital health and diagnostics company providing comprehensive genomic diagnostic services based on Whole Genome Sequencing.
With a cross-functional, international team of geneticists, medical experts and data scientists, Arcensus, one of the world’s most innovative genetic biotechnology companies, offers its knowledge and bioinformatic expertise in genomic interpretation together with cutting-edge medical and preventive health applications.
The initiative for the take-over comes from the Kingdom’s aim to improve the global speed in implementing genomic testing for the early diagnosis of genetic diseases, mainly cancer and rare genetic disorders. The financial investment led by Dammam Valley will allow Arcensus to speed up the penetration of the worldwide markets with its innovative solutions. It will be the backbone for developing a comprehensive multi-omic strategy.
Dr. Abdulrahman Al-Olayan CEO – Dammam Valley
“This is an important step in our global healthcare strategy for KSA, as we believe that the early diagnosis and preventive testing based on real-life genomic expertise with Whole Genome Sequencing is a key ingredient to accelerate the development of, and access to, new future treatments. As a leading technology company in genomic testing, Arcensus GmbH, founded by the visionary multi-entrepreneur, Dr. Arndt Rolfs, is best positioned to provide a deep understanding of bioinformatic technologies and data analytics infrastructure needed not only for the Kingdom of Saudi Arabia but for medical research and development efforts across the globe.”
Dr. Rolfs said that “Dammam Valley will be a tremendous partner for the global expansion to us and shares our vision for building a worldwide healthcare platform in modern preventive medicine as well as early diagnostics of all genetic diseases. This important partnership will allow us to increase the investments in our modern technology and services platform, as well as our knowledge-based data extraction of the genomic data.”
Under the agreement, Dammam Valley along with other investors will make a double-digit million Euro payment on a fully diluted basis. The parties agree Arcensus continue its current business model, a network of partnerships and overall objectives following the transaction’s closing. The integrity of the proprietary patient data will be maintained, as will the dedicated sales, marketing, and life sciences business activities.
