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UAE, Israeli companies agree to jointly combat Covid-19 and develop testing device

UAE, Israeli companies agree to jointly combat Covid-19 and develop testing device

The agreement was signed between APEX National Investment and TeraGroup at the headquarters of Al Qudra Holding in Abu Dhabi

UAE Israel Covid-19

Emirati company APEX National Investment signed a strategic commercial agreement with the Israeli TeraGroup to research and study the Covid-19 virus, official news agency WAM reported on Saturday.

The agreement also includes developing a coronavirus testing device to speed up the overall testing process, and to ensure that the tests are carried out with greater accuracy, while aiming to achieve a greater overall number of tests undertaken to screen for the virus.

“We are delighted with this cooperation with TeraGroup, which is considered the first business to inaugurate trade, economy and effective partnerships between Emirati and Israeli business sectors, for the benefit of serving humanity by strengthening research and studies on the novel coronavirus Covid-19,” said Khalifa Yousef Khouri, chairman of APEX National Investment.

APEX National Investment is an investment company, covering the healthcare sector with a dedicated focus on rapidly establishing field hospitals, facilitating them with all the necessary equipment.

The company also develops solutions to implement precautionary measures necessitated by the spread of coronavirus, in addition to gathering field data to support laboratories with their research and studies to develop a vaccine to fight the coronavirus pandemic.

The agreement was signed by Khalifa Yousef Khouri, and Oren Sadiv, chairman and CEO of TeraGroup at a press conference held at the headquarters of Al Qudra Holding in Abu Dhabi.

Also in attendance was Ido Berniker, a representative from First Capital Group, as well as officials from the two countries and media representatives too.

“We are thrilled with our agreement with APEX National Investment and hope that we will achieve the objectives outlined in this agreement, which in turn will benefit everyone economically, specifically in these exceptional circumstances with the spread of the novel coronavirus Covid-19 around the world,” said Sadiv.

Established in 2003, deep technology company TeraGroup branched out of the Weizmann Institute of Science in Israel, and has focused on R&D with leading scientists.

TeraGroup focuses one-minute Covid-19 breathing tests using Tera sensing, which guarantee immediate cost-effective results.

TeraGroup’s BioSafety testing is conducted in countries around the world, including the Emirates Field Hospital in Abu Dhabi, with plans to expand the testing to cover the entire UAE.

“I would like to thank Khalifa Yousef Khouri and Mr. Oren Sadiv and we are pleased with the signing of this commercial agreement between APEX National Investment, which specialises in investments and scientific fields in Abu Dhabi, and TeraGroup, a global leader in Terahertz field. At First Capital Group, we are very keen on bringing companies specialised in sciences and inventions together to establish commercial and investment partnerships with Emirati companies, such as APEX National Investment,” added Berniker.

The latest agreement comes days after the UAE reached a historic agreement with Israel.

The UAE agreed to establish diplomatic ties with Israel. In turn, Israel will cease annexation of Palestinian territories.

Read: UAE, Israel agree on historic deal to establish diplomatic ties

A statement from the White House added that the two countries would over the coming weeks sign bilateral agreements on investment, tourism, direct flights, security, telecoms, energy, healthcare, culture, and even the establishment of reciprocal embassies.

Last month, Abu Dhabi-based company Group 42 (G42), signed an MoU with Israeli defence technology company, Rafael Advanced Defense Systems, Rafael, and the Israel Aerospace Industries (IAI) to collaborate on research and development of solutions to combat the Covid-19 virus.

Read also: Abu Dhabi-based G42 joins Israel Aerospace Industries, Rafael to combat Covid-19

The UAE has reported a total of 64,102 Covid-19 cases, while Israel has confirmed that it has detected 92,233 cases since the outbreak of the virus.

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