Boston Oncology Arabia, a Riyadh, Saudi Arabia-based bio-generic drugs manufacturing company, received a USD 35M investment.
TVM Capital made the investment.
The company intends to use the funds to further enhance its move into full formulation and fill and finish manufacturing at its local production facility in Sudair Industrial City. TVM Capital Healthcare will also provide strategic support and leverage its global network to further expand the company’s access to international suppliers.
Led by CEO and Founder Abdullah Baaj, Boston Oncology Arabia provides vital medicines for critical conditions through the local development and manufacturing of internationally licensed therapeutics. It is contributing to a key goal of Saudi Arabia’s Vision 2030 by supplying care medicines through flexible, local manufacturing facilities and leveraging its international relationships for licensing from Western and Eastern markets.
Commenting on the news, Abdullah Baaj said: “Boston Oncology Arabia’s localization model is specifically designed to create value in complex and competitive markets. TVM Capital Healthcare’s support enables us to strengthen our position and bring cutting-edge, specialized manufacturing to the GCC and MENA region, impacting the lives of millions of patients.”
FinSMEs
01/07/2024