PIF’s Lifera forms JV with global omics diagnostics firm CENTOGENE 

The partnership will contribute to expanding population health programs and enhancing the speed of clinical diagnoses (Shutterstock)
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Updated 27 June 2023
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PIF’s Lifera forms JV with global omics diagnostics firm CENTOGENE 

RIYADH: Patients in the Gulf Cooperation Council region could get faster and more accurate diagnoses after the Public Investment Fund-owned Lifera announced a joint venture with CENTOGENE. 

The biopharmaceutical company will be working with the German-based firm to provide multiomic testing services — a concept in biological research that aims to comprehensively characterize and quantify large numbers of molecules in complex samples.

The joint venture intends to transform genetic insights into data-driven answers that will accelerate the field of precision medicine, according to a press release.

The partnership will contribute to expanding population health programs, enhancing the speed of clinical diagnoses and fostering research capabilities and collaborations in the Kingdom. 

“This strategic collaboration is a reflection of Lifera’s mission to grow Saudi Arabia’s biopharma sector,” Ibrahim Al-Jufalli, chairman at Lifera, said. 

Additionally, the joint venture aligns with the objectives of Saudi Arabia’s Vision 2030 and other national initiatives focused on genomic testing and the growth of the biotech sector in the country. 

“With CENTOGENE’s expertise in the field of rare, metabolic and neurodegenerative diseases, we see tremendous potential value for the joint venture to provide more timely and accurate diagnoses which are crucial to patients and their families, driven by a comprehensive diagnostic portfolio that goes beyond standard laboratory testing and medical interpretation,” Al-Jufalli added. 

As part of the agreement, CENTOGENE will receive a $30 million investment through a mandatory convertible loan with a conversion price of $2.20 per share of its common stock.  

The company will also benefit from milestone payments linked to the joint venture’s performance and revenue-based royalties until 2033. 

The collaboration between CENTOGENE and Lifera represents a significant advancement in the field of genomics and precision medicine in Saudi Arabia.  

By leveraging CENTOGENE’s global expertise and Lifera’s local insights, the joint venture aims to provide innovative solutions that will improve patient care, drive scientific research, and contribute to the overall growth of the biotech sector, said the press release.  

“Teaming up with Lifera marks a significant step forward in our mission to deliver data-driven, life-changing answers to patients around the world and forms a pathway to achieving sustainable growth and profitability for CENTOGENE,” said Kim Stratton, CEO at CENTOGENE. 


Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

Updated 25 January 2026
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Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.

Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.

He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.

La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh. 

Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.

Launching La Fabrique as a space dedicated to artistic creativity

The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally. 

He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.

Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.

Saudi Arabia benefiting from French experience in the cultural field

Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.

This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.

He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.

La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.