J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

Rhea-AI Summary

J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors, and United Al Saqer Group announced Rayees Rahman of Harmonic Discovery as the winner of the inaugural Life Sciences Innovation Summit held on May 14-15, 2024, at Cleveland Clinic Abu Dhabi.

Harmonic Discovery, specializing in precision pharmacology, was recognized for its generative chemistry platform for advancing next-generation kinase inhibitors.

Chun-Hao Huang of Algen Biotechnologies received an honorable mention for their CRISPR and AI-driven treatments.

The Summit featured speeches from renowned experts, networking opportunities, and showcased 11 innovative finalists. All finalists were awarded complimentary business licenses from Masdar City Free Zone, supporting their establishment in Abu Dhabi.

Sponsors included J.P. Morgan Life Sciences, Blue Horizon Advisors, and others, aiming to foster biotech innovation in the region.

Positive

• Rayees Rahman of Harmonic Discovery awarded winner, enhancing company visibility.
• 11 finalists received complimentary business licenses from Masdar City Free Zone.
• Summit facilitated networking and insights with notable experts in life sciences.
• Chun-Hao Huang of Algen Biotechnologies received an honorable mention, increasing recognition.
• Sponsors like J.P. Morgan and Blue Horizon Advisors committed to supporting biotech innovation.

Negative

• No immediate financial gains or capital influx reported for participants.
• Unclear long-term impact on stock performance for J.P. Morgan (JPM).

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

FAQ

Who won the 2024 Life Sciences Innovation Summit?

Rayees Rahman of Harmonic Discovery won the 2024 Life Sciences Innovation Summit.

What is Harmonic Discovery known for?

Harmonic Discovery is known for its generative chemistry platform to advance next-generation kinase inhibitors.

When was the 2024 Life Sciences Innovation Summit held?

The 2024 Life Sciences Innovation Summit was held on May 14-15, 2024.

What recognition did Algen Biotechnologies receive?

Chun-Hao Huang of Algen Biotechnologies received an honorable mention for their CRISPR and AI-driven treatments.

Who were the sponsors of the 2024 Life Sciences Innovation Summit?

Sponsors included J.P. Morgan Life Sciences, Blue Horizon Advisors, United Al Saqer Group, and others.

Where was the 2024 Life Sciences Innovation Summit held?

The Summit was held at Cleveland Clinic Abu Dhabi.

What support did Masdar City Free Zone provide to the finalists?

Masdar City Free Zone awarded all 11 finalists complimentary business licenses.

What was the focus of the Life Sciences Innovation Summit?

The focus was on showcasing innovative life sciences companies and providing networking opportunities.