Abu Dhabi to start clinical trials to develop 'game-changing' new thalassaemia treatment

Abu Dhabi will start clinical trials to test a new drug that could transform the way thalassaemia is being treated.

Burjeel Medical City will test the effectiveness and safety of new drug Mitapivat, which has shown promise as a treatment for the condition.

Thalassaemia is an inherited blood disorder and one of the most common genetic illnesses in the UAE.

It occurs when the body doesn't make enough of a protein called haemoglobin. Severe cases require frequent blood transfusions.

Stem cell or bone marrow transplants are the only current cures for thalassaemia.

If these studies meet their endpoints, this could be a game changer to how the disease is being treated today

Dr Khaled Musallam,
Burjeel Holdings

Mitapivat is a US and EU-approved drug to manage pyruvate kinase deficiency.

It has recently demonstrated potential in earlier trials for transforming the treatment of thalassaemia.

Abu Dhabi will take part in the phase 3 trials — Energise and Energise-T — which will test Mitapivat's effectiveness on adults with thalassaemia.

The trials will evaluate the drug in two types of thalassaemia with relatively different clinical needs.

The Energise study aims to evaluate whether Mitapivat can effectively and safely improve haemoglobin levels in patients who do not require regular transfusions.

The Energise-T study aims to evaluate whether the same drug can decrease transfusion requirements in patients who regularly receive transfusions.

Dr Asma Al Mannaei, executive director of the Research Centre and Innovation at Abu Dhabi Department of Health, said the emirate's regulator is “working on cementing Abu Dhabi’s position as a pioneering healthcare destination globally and the region’s hub for research and innovation in life science”.

“Abu Dhabi was able to play a pivotal role in developing medicines and conducting clinical trials with several international partners,” she said.

“Today, we are witnessing the launch of new clinical trials so that we continue our efforts as we aim to further improve healthcare services in Abu Dhabi, and helping all members of our community, and across the globe.”

The UAE was one of the first countries to participate in clinical trials of Covid-19 vaccines with more than 32,000 volunteers for the Chinese Sinopharm inoculation.

Dr Khaled Musallam, group chief research officer or Burjeel Holdings, said Abu Dhabi was “now at the forefront of leading-edge innovations”.

“If these studies meet their endpoints, this could be a game changer to how the disease is being treated today,” he said.

“A disease-modifying therapy can address persisting unmet needs of patients in the UAE and around the world.”

The Energise trials will start with a typical screening period and run for 24 weeks, while Energise-T will run for 48 weeks, with core treatment periods for primary results, followed by five-year extensions.

The trials, which will be conducted at Burjeel Medical City in collaboration with the US as well as several centres in the EU and Asia, will include clinical, radiological and laboratory assessments.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Fireball

Moscow claimed it hit the largest military fuel storage facility in Ukraine, triggering a huge fireball at the site.

A plume of black smoke rose from a fuel storage facility in the village of Kalynivka outside Kyiv on Friday after Russia said it had destroyed the military site with Kalibr cruise missiles.

"On the evening of March 24, Kalibr high-precision sea-based cruise missiles attacked a fuel base in the village of Kalynivka near Kyiv," the Russian defence ministry said in a statement.

Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.

If you go

The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.