FII9 Session Highlights Importance of Scientific Research, Biotechnology in Healthcare

CEO of King Faisal Specialist Hospital and Research Center Dr. Majid Al Fayyadh stressed that investment in scientific research and biotechnology represents a key pillar in Saudi Arabia’s healthcare strategy. He noted that the hospital has been conducting medical research for more than 50 years and is now working to advance to a new stage in biotechnological innovation through a comprehensive national strategy that includes infrastructure and human capital development.

 This came during his participation in a panel discussion on investing in biotechnology as part of the ninth edition of the Future Investment Initiative (FII9). The session also featured Dr. Noubar Afeyan of Moderna, who discussed the major challenges facing the biotechnology sector, including regulatory procedures and market entry costs.

 Al Fayyadh noted that the Saudi Food and Drug Authority has undergone a remarkable transformation in terms of the speed and quality of its procedures, now ranking among the world’s best, with clinical trials being approved in just 60 days. He stressed the importance of linking research with commercial applications to build an effective and sustainable biotechnology ecosystem.

 He pointed out that human capital remains the greatest challenge in the development process, highlighting King Faisal Specialist Hospital’s success in producing the first locally manufactured CAR-T cell therapy and treating a patient successfully. He emphasized that attracting and training specialized professionals remains one of the most critical factors for success in the coming phase.

 Afeyan underscored that the world today requires more innovation and effort to find solutions and support advancements in biotechnology to serve humanity. He praised several international models in the health and biotechnology sectors, stressing the importance of leveraging natural resources to help drive progress and innovation.

 He added that artificial intelligence and biotechnology have become integral partners in advancing healthcare technologies, enabling the sector to maximize their benefits for humanity, while emphasizing the importance of maintaining human oversight rather than relying on them entirely.