UAE-based Medad Technology to invest US$150 million in breakthrough inhalation technology and other disruptive technologies
A privately owned and funded UAE company is investing more than US$150 million in the research and development of new technologies that could pave the way for radical advances in healthcare, biotech, fintech and even sustainable mobility.
Mohammed Alshaiba Almazrouei, Chief Executive Officer of Dubai-basedMedad Technology, said the company has already patented several innovations in ultrasound technology, with potentially groundbreaking applications in smoking cessation, medicine delivery and diagnostics.
Medad Technology is committed to delivering faster, smarter and safer solutions to improve public health and quality of life, locally and internationally, said Almazrouei.
He highlighted that Medad Technology has invested US$50 million over the past four years to develop, manufacture and test its ultrasound technology, and secure regulatory approval in the UAE and international markets.
The tech company is now introducing its patented ultrasound nicotine delivery system (UNDS) to the UAE and will invest a further US$100 million over the next three years in clinical trials, smoking cessation research and product development across sectors.
We intend to play an active role in the digital transformation currently sweeping the world, breaking down scientific barriers to promote better health and well-being for all, he concluded.
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