Xlife Sciences AG is elected as Innovation Partner for Saudi Arabia

ZÜRICH, SWITZERLAND – EQS Newswire – 26 October 2021 – Xlife
Sciences AG has signed a strategic partnership with the development
organization Peace City World as part of the Vision 2030 future program. Peace
City World is the official developer of four Smart Cities in Saudi Arabia and
Tunisia as well as part of Vision 2030. The program was launched by the Saudi
Crown Prince in 2016 and aims to reduce Saudi Arabia’s dependence on fossil
fuels and diversify its economy financially. As part of the partnership, Xlife
Sciences will be granted a budget of up to 50 Million US Dollars. The core focus
is the establishment of an innovation center and technology transfer for the
Smart Cities initiative.

The partnership of Xlife Sciences AG with Vision 2030 takes place in the field
of sustainable health and particularly focuses on promoting innovation and
technology transfer to the Middle East. Oliver R. Baumann, CEO of Xlife
Sciences sees significant potential in the collaboration: “For Xlife, the
partnership with Saudi Arabia is a recognition of our work and a step towards
more international presence and innovation in our four pillars of technology
platforms, biotech, medtech and artificial intelligence.”
“Furthermore, by participating in the program, Xlife is significantly
expanding its network of relationships and presence in the region. In terms of
the program, further license partners for the various technologies may be
found, particularly for the exit of project companies and the acceleration of
registration processes”, says Baumann.

According to the management of Xlife, the funds of up to 50
Million US Dollars will especially be used for the construction of an
innovation center and the further development of smart city technologies. As
part of the Smart City Sustainability initiative, Saudi Arabia aims to operate
ten cities sustainably in the mid term. Moreover, the funds are also intended
to further advance the scaling process of various Xlife project companies.