DUBAI // A medical company based in Dubai is looking to invest up to Dh60 million (US$16.3m) to launch the Middle East's first research centre devoted to stem-cell treatment.
Shahab al Awadi, the chief executive of Medical Supplies Company (MSC), said he was in negotiations with international medical researchers to open two specialised medical clinics in the UAE by the end of this year that will treat patients with cord-blood stem cells.
Stem cells are the basic building blocks of life that are capable of developing into various types of cells. Researchers say stored stem cells can later be used for a tailor-made cure in the event of disease striking later in life.
One centre in Dubai will focus on treatments such as plastic surgery, while the other will be based in Abu Dhabi and will conduct major surgery and research into the treatment of diseases such as diabetes, Mr al Awadi said.
"I started in the medical field and I think that this is a unique opportunity," he said. "We cannot wait to get opportunity from outside, so we have to start from here."
Mr al Awadi said banks would finance up to 65 per cent of the initial investment, with the rest of the funds coming from MSC.
The company distributes medical equipment throughout the MENA region and reported net profits of Dh7.6m for last year, he said.
"It's a very long-term investment," Mr al Awadi said, adding that he had saved Dh20m in capital costs because MSC would be providing most of the stem cell-related medical equipment.
Stem-cell research could be a major boost to the UAE's developing biotechnology market. The Dubai Biotechnology and Research Park announced it had opened its $100m laboratory complex last month, while a national pathology laboratory was launched in December.
The Dubai Cord Blood and Research Centre (DCBRC) has been offering parents the chance to store cord blood since June 2006.
Mr al Awadi said his centres would charge families less than Dh7,000 to store their cord blood for 20 years. The DCBRC charges about Dh9,000 for any family, including those with a history of genetic disorders, to store their child's cord blood.
But research in the medical field has been a contentious issue in the US, drawing the ire of fundamentalist religious groups that argue the process invades the development of human embryos.
Stem-cell research and treatment is banned in several European countries, including Italy and Germany, because of cloning techniques that are often used.
Proponents say the experimentation could lead to treatments that could improve the quality of life.
Dr Ali Khalil, the chairman of research at the Khalifa Medical City, said there were no healthcare regulations relating to stem-cell research in the UAE.
"There are two issues here: regulation relating to government policy and another for Sharia policy," Dr Khalil said.
"According to Sharia, stem cells is probably OK if taken from and injected back into the same person.
"But if it is taken from one person and injected into another, I don't know if that has been discussed among religious people."
Dr Akram al Hilali, a haematologist at the Dubai Health Authority, said any research that started in the UAE would be good not only for the country, but for the region as well.
"If you have well-experienced people that can pay for research, then perhaps eventually they can provide the medical centres with support for their treatments," Dr al Hilali said.
"Then, the regional healthcare community will start looking to do their own stem-cell research to compete with them to stimulate further knowledge. This can only be a good thing."
The ethical debate does not worry Mr al Awadi, who maintained that his plan will not involve embryonic stem cells but focus solely on harvesting blood cells from "adult" stem cells that originate in umbilical cord blood.
But it is unclear whether stem-cell research in the UAE is regulated.
This month, a Turkish doctor is expected to become the first medical practitioner in the UAE to perform stem-cell transplant surgeries.
The ministry of health had approved the stem-cell expert Dr Haluk Deda opening a clinic in the Dubai Healthcare City.
dgeorgecosh@thenational.ae
COMPANY%20PROFILE
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Company%20Profile
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The biog
Nickname: Mama Nadia to children, staff and parents
Education: Bachelors degree in English Literature with Social work from UAE University
As a child: Kept sweets on the window sill for workers, set aside money to pay for education of needy families
Holidays: Spends most of her days off at Senses often with her family who describe the centre as part of their life too
Company%20Profile
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
'Falling%20for%20Christmas'
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
COMPANY%20PROFILE%3A
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Abu Dhabi GP weekend schedule
Friday
First practice, 1pm
Second practice, 5pm
Saturday
Final practice, 2pm
Qualifying, 5pm
Sunday
Etihad Airways Abu Dhabi Grand Prix (55 laps), 5.10pm
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
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- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Expert input
If you had all the money in the world, what’s the one sneaker you would buy or create?
“There are a few shoes that have ‘grail’ status for me. But the one I have always wanted is the Nike x Patta x Parra Air Max 1 - Cherrywood. To get a pair in my size brand new is would cost me between Dh8,000 and Dh 10,000.” Jack Brett
“If I had all the money, I would approach Nike and ask them to do my own Air Force 1, that’s one of my dreams.” Yaseen Benchouche
“There’s nothing out there yet that I’d pay an insane amount for, but I’d love to create my own shoe with Tinker Hatfield and Jordan.” Joshua Cox
“I think I’d buy a defunct footwear brand; I’d like the challenge of reinterpreting a brand’s history and changing options.” Kris Balerite
“I’d stir up a creative collaboration with designers Martin Margiela of the mixed patchwork sneakers, and Yohji Yamamoto.” Hussain Moloobhoy
“If I had all the money in the world, I’d live somewhere where I’d never have to wear shoes again.” Raj Malhotra
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
How Apple's credit card works
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
* Associated Press
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
How it works
Booklava works on a subscription model. On signing up you receive a free book as part of a 30-day-trial period, after which you pay US$9.99 (Dh36.70) per month to gain access to a library of books and discounts of up to 30 per cent on selected titles. You can cancel your subscription at any time. For more details go to www.booklava.com
SRI LANKA SQUAD
Upul Tharanga (captain), Dinesh Chandimal, Niroshan Dickwella
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Chamara Kapugedara, Thisara Perera, Seekuge Prasanna
Nuwan Pradeep, Suranga Lakmal, Dushmantha Chameera
Vishwa Fernando, Akila Dananjaya, Jeffrey Vandersay
COMPANY%20PROFILE
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The%20Sandman
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
SPECS
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
'Nope'
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Engine: 80 kWh four-wheel-drive
Transmission: eight-speed automatic
Power: 402bhp
Torque: 760Nm
Price: From Dh280,000
COMPANY%20PROFILE
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.