The Saudi-based pharmaceutical company provides best-in-class specialty drug treatments
RIYADH, Saudi Arabia
TVM Capital Healthcare, an international healthcare expansion and growth capital firm, today announced a USD 35 million investment in Boston Oncology Arabia, a bio-generic drugs manufacturing company based in the Kingdom of Saudi Arabia. From its headquarters in Riyadh and production facility in Sudair Industrial City, Boston Oncology Arabia provides vital medicines for critical conditions through the local development and manufacturing of internationally licensed, best-in-class therapeutics.
Saudi Arabia’s growing demand for locally manufactured, life-saving specialty drug treatments positions the company to become one of the Kingdom’s key providers of specialty generics and biosimilar medications. By using already approved formulations, Boston Oncology Arabia meets the highest standards of pharmaceutical quality, safety, and efficacy.
Boston Oncology Arabia is contributing to a key goal of Saudi Arabia’s Vision 2030 by supplying critical care medicines through highly flexible, local manufacturing facilities and leveraging its international relationships for licensing from Western and Eastern markets.
With extensive operating experience in the Middle East, TVM Capital Healthcare’s involvement will expedite Boston Oncology Arabia’s move into full formulation and fill and finish manufacturing at its local production facility in Sudair Industrial City. The firm will also provide strategic support and leverage its global network to further expand the company’s access to international suppliers.
Abdullah Baaj, MD, PharmD, Founder & CEO of Boston Oncology Arabia, commented: “Boston Oncology Arabia’s localization model is specifically designed to create value in complex and competitive markets. TVM Capital Healthcare’s support enables us to strengthen our position and bring cutting-edge, specialized manufacturing to the GCC and MENA region, impacting the lives of millions of patients.”
Orhan Osmansoy, Managing Partner at TVM Capital Healthcare, said: “As a fast-growing local bio-generics manufacturer, Boston Oncology Arabia is playing a major role in developing Saudi’s pharmaceutical sector. With an impressive management team, the company is the established leader in therapeutics for oncology and critical care. We are pleased to be on this journey with our co-investors Kanoo Ventures, as Boston Oncology Arabia helps to increase local production, reduce healthcare costs, and improve access to essential pharmaceuticals in the Kingdom.”
Dr. Helmut M. Schuehsler, Chairman and CEO of TVM Capital Healthcare, added: “We are proud to back Boston Oncology Arabia in bringing the highest quality, affordable, and locally manufactured generics and biosimilar drugs to the Kingdom. In addition to supporting their local manufacturing expansion plans, we look forward to further strengthening their licensing relationships in Europe and U.S. with our well-established international networks. This investment underscores our commitment to creating an impact in local communities through enhanced access to world-class healthcare services, while delivering strong returns to investors.”
TVM Capital Healthcare is recognized as the first international fund manager investing in and operating major healthcare companies in the Kingdom. The firm is also active across the Middle East and Southeast Asia. In addition to backing leading local companies, TVM Capital Healthcare invests in healthcare growth deals in Europe and the U.S. to support these companies’ expansion plans into these regions. With this two-pronged, highly catalytic strategy, TVM Capital Healthcare improves access to world-leading products, technologies, and services in emerging economies.
