STARTUPS-

Biotech startup BioSapien extended its pre-Series A round to over USD 8 mn, bringing in new investment from MENA-based impact fund Globivest, though the amount was undisclosed, according to a company statement (pdf). The round already included backing from Global Ventures, Golden Gate Ventures, and Dara Holdings.

REFRESHER- The startup, which has offices in Abu Dhabi and California, had previously extended its pre-series A round to USD 7 mn in January, with investors including Golden Gate Ventures. The funding was aimed at accelerating UAE-based clinical trials for MediChip — its 3D-printed cancer treatment platform that delivers slow-release chemotherapy directly to tumors — set to begin in 2Q 2025.

What’s next: The company has made 12 senior hires across regulatory, pharmacology, and engineering roles as it gears up for first-in-human trials, the statement said.

REAL ESTATE-

Drake and Scull kicks makes real estate debut with land acquisition: Engineering firm Drake and Scull International (DSI) is making its debut as a commercial property developer after acquiring land in Dubai’s Majan to develop into a mixed-use commercial building, according to a press release (pdf). The 156k sq ft commercial building, set to be completed by the end of 2026, marks the Dubai-based contractor’s first fully self-owned development and comes as the company diversifies beyond infrastructure works.

A closer look: The building will be used for both business and retail purposes, and will include 67k sq ft of office space across nine floors and over 10k sq ft of retail space on the ground level. Bel-Yoahah Architectural and Engineering Consultants was tapped to handle design and supervision, and final approval for construction is being finalized.

RESEARCH-

#1- Trends sets up a virtual office in Paris: Abu Dhabi-based think tank Trends Research andAdvisory established its 13th global virtual office in Paris, expanding its digital research network that already includes locations in Syria, Latin America, Canada, and China, among others, according to a press release. Last year the think tank said it planned to open new offices in Washington, Sao Paulo, Buenos Aires, Berlin, and Moscow.

The pitch: The new French hub will facilitate knowledge exchange between Arabic and francophone institutions through virtual events and bilingual content production. It will also track French-language research on topics ranging from emerging technologies to geopolitical shifts while promoting translation initiatives.

#2- Graphene Innovations Manchester opens up UAE facility: UK-based deep-tech firm Graphene Innovations Manchester (GIM) launched GIM WildCat, a commercial development center at Sharjah Research, Technology, and Innovation Park, according to a press release. The facility will showcase graphene-based technologies, serve as an investor hub, and collaborate on R&D with other firms in the park.

FINANCIAL SERVICES-

Sri Lankan bank opens DIFC office: The Commercial Bank of Ceylon — the country’s largest private sector bank — opened a representative office at the Dubai International Financial Center (DIFC), marking its first physical presence in the Middle East, according to a press release. The office will support trade, investment, and remittance flows between Sri Lanka and the region, with a focus on clients in Sri Lanka, Bangladesh, and the Maldives.

ICYMI- The move follows regulatory approval from the Dubai Financial Services Authority earlier in May. Commercial Bank is the first Sri Lankan bank to establish a presence in the DIFC.

AVIATION-

#1-Abu Dhabi Crown Prince meets Brazil’s Embraer CEO: Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan held talks with Brazilian aerospace firm Embraer ’s CEO Francisco Gomes Neto in Rio de Janeiro, on the sidelines of the Brics summit, state news agency Wam reports. The two discussed ways to improve research and development initiatives in aviation technology, as well as technical collaboration on aircraft maintenance.

#2- Air Arabia will begin daily flights between Sharjah International Airport and Munich International Airport starting from 15 December, according to a press release.

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