“The first ever production by SBI Pharma in the region will pave the way for developing drugs on diabetes and cancer in this part of the with clinical tests to be carried out on patients in Bahrain,” Yoshitaka Kitao, Representative Director, President and CEO of SBI Holdings in an exclusive interview told The24X7News.
Kitao, who was joined by SBI Pharma Bahrain and regional representatives at the Ritz-Carlton during the interview, said that the decision was a result of both countries efforts to bolster co-operation in clinical and health care services.
“We have signed MoUs with King Hamad Hospital and Arabian Gulf University for clinical and research sides while Bahrain Development Bank, Mumtalakat and EDB Mous will help company’s financing sides,” he added.
The Arab region, Kitao said, with 18% of the population with diabetes tendencies are very high and having a clinical research on patients of this part of the world will be a milestone in diabetes treatment.
“We will also work on the developing the drugs for cancer treatment,” he added.
The plant was a culmination of the high profile visits by HM King Hamad and His Royal Highness Prince Salman bin Hamad to Japan which resulted in greater co-operation between the two sides in trade, economic, investment, transfer of expertise, political and all other vital areas.
Earlier, the Japanese Ambassador said that Bahrain and Japan were keen to enhance co-operation in pharmaceutical and clinical research areas aims at developing highly sophisticated drugs for cancer and diabetes patients.
The prime ministers of both countries will formalise the proposed co-operation by signing a memorandum of understanding (MoU) during the first visit of any Japanese Prime Minister in the past 43 years to Bahrain.
Earlier this year Bahrain’s Sovereign Fund, Mumtalakat Holding Company, had signed a Memorandum of Understanding (MoU) with the Japanese SBI Pharmaceuticals Co. Ltd. (SBI) on the sidelines of the visit to Japan of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister and Chairman of the Economic Development Board (EDB).
The previous MoU formalized the understanding between both parties to explore various areas of cooperation in the pharmaceutical industry, including research, development and production of pharmaceutical products.
SBI is a leading innovator in the development and manufacturing of products containing 5-ALA, a key component of ‘hemoglobin ‘and ‘chlorophyll’, which composes the non-protein part of human plasma, which in turn is responsible for transporting oxygen around the body. Applications of the 5-ALA include food supplements, cosmetics, cancer detection, diagnoses and screening, prevention and treatment of metabolic disorders, and agricultural utilization.
“The 5-ALA project will benefit the Kingdom of Bahrain and the GCC by fulfilling unmet preventive and therapeutic needs of various diseases, providing highly technical job opportunities to the young generation, building up the research platform to attract international pharmaceutical and medical industry, and reducing the medical expenditure of the government. Allow me to stress that this is a great contribution to helping maintain a high quality of life for all the people in the GCC. We are greatly pleased and honoured to work with Mumtalakat and other governmental, academic and business partners in Bahrain for this innovative project,” Yoshitaka Kitao, CEO, SBI quoted saying after the signing of MoU between Mumtalakat and SBI Pharma.