The stem cell research hub will recruit and enrol 45 patients for the study. Alamy
The stem cell research hub will recruit and enrol 45 patients for the study. Alamy
The stem cell research hub will recruit and enrol 45 patients for the study. Alamy
The stem cell research hub will recruit and enrol 45 patients for the study. Alamy

Abu Dhabi to begin new clinical trials for people with MS


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Abu Dhabi Stem Cells Centre (ADSCC) will begin new clinical trials to help treat people with multiple sclerosis (MS).

Approved by Research Committee of Department of Health — Abu Dhabi, the study will include 45 patients.

The study will evaluate the efficacy of a new technology called extracorporeal photopheresis (ECP) in treating MS, with the end goal of establishing immunomodulation, or regulation of the body's immune system, in patients.

ECP is a cutting-edge, nonsurgical procedure also used to treat complications during bone marrow and stem cell transplants. It can also used to treat organ transplant rejection.

“The UAE is bringing the unique and innovative treatments that are mostly found in the West to the region in this ground-breaking clinical trial,” said Dr Yendry Ventura, ADSCC’s General Manager

“Multiple sclerosis is a debilitating disease that can have a devastating impact on many patients’ lives in the Middle East and around the world and our world-leading research centre has the chance to advance global biotechnology treatments to the next level.

“Getting here is the result of years of tireless work and commitment from our fantastic team at ADSCC and we are thrilled to be at the start of the Phase 1/2 study.”

The researchers will evaluate the selected patients during the one-year trial and Dr Ventura says the study will result in life-changing remedies for people in the UAE, the Middle East and beyond.

ECP technology has been used successfully since 1987 in fighting conditions that share some of the same characteristics as MS.

The trial is registered in the US government's clinical trials public database, an internationally recognised platform recognised by the World Health Organisation.

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.”

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

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Updated: April 26, 2022, 5:28 PM