Dubai, United Arab Emirates: Alveo Technologies, a USA-based provider of cutting-edge molecular testing and cloud-based data analytics for rapid diagnosis and management of infectious diseases, has won this year’s inaugural Medlab Middle East Labpreneur competition, and with it, a three-month mentorship program with Middle East Venture Partners and complimentary exhibition space at the 2024 edition of Medlab Middle East.
The start-up competition has been created to provide a platform for the most exciting medical laboratory start-ups worldwide. Following an intensive pitch process on the final day of Medlab Middle East, where eight companies took to the stage to showcase the latest innovations addressing the challenges within the medical lab industry, Alveo Technologies Inc has come out on top.
The company has developed the dynamic molecular diagnostic platform, be.well™, which focuses on acute respiratory infections, including COVID-19, Flu A/B and RSV, which can be adapted to detect a wide range of diseases, bacteria, and other pathogens that threaten public health, across all modalities.
During the final, Erik Tyrrell-Knott, Chief Business & Strategy Officer at Alveo Technologies Inc, said: “Our vision is to provide lifesaving medical information to those who need it, at the most critical times — with technology that is flexible, inexpensive, and accessible worldwide.
“We believe increased access to real-time test results will transform how individuals, healthcare providers and public health professionals identify and manage infectious diseases.”
Finalists included a diverse range of innovators, disrupters, and entrepreneurs and such as LivSys, the developers and manufacturers of in-vitro diagnostic products providing quality and cost economic instruments that enable affordable health care to all segments of people; AstraGene, the first biotech diagnostics manufacturing company in the UAE; Zcare, a 3D medical solution company that uses 3D printing and augmented reality to support surgeons when in theatre; Mage Health, the secure platform for managing and sharing medical records putting patients in control; Detectionme, the first AI-enabled liquid biopsy multi-cancer detection test in the Middle East; Gene&GreenTK, a young biotech company dedicated to developing robust enzymes addressing significant public health and environmental issues; and Intelligenix Advanced Diagnostics LTD, a biotech company that is developing precision medicine-based diagnostics and targeted therapeutics in oncology.
The judging panel included an international lineup of renowned figures from the investment arena and leading healthcare experts; among them were Marwan Abdulaziz Janahi, Managing Director, Dubai Science Park; Gaelle Yammine, Associate, Middle East Venture Partners; Dr Marie Ibrahim, Associate Director – Regulatory Affairs and Pharmacovigilance, IROS CRO; and Dr Rahul Chaudhary, Group Director Pathology, Unilabs, Geneva.
Tom Coleman, Exhibition Director for Informa Markets, said: “One of the major themes of Medlab Middle East 2023 is showcasing the technologies that are paving the way for advancements in the medical laboratory industry. Underscoring this is our newly launched Labpreneur competition, which provides a platform for the world's most exciting and promising medical laboratory start-ups.
“I’d like to congratulate Alveo for winning today, and I look forward to welcoming them back to Medlab Middle East 2024, where they’ll have the opportunity to showcase more innovative products.”
Medlab Middle East concludes today at 5 pm, following four days of meetings, networking and exploring new business opportunities in the global medical laboratory field.
About Medlab Middle East
As the MENA region's most prominent medical laboratory exhibition and congress, Medlab Middle East plays a crucial role in developing the value of laboratory medicine in paving the way for technological advancements and sustainability in laboratory medicine by providing a platform for laboratory industry leaders, including manufacturers, dealers and distributors, in sharing best practice, showcase innovations, collaborate and network.
Medlab Middle East stems from 15 years of growth alongside the MENA region's largest healthcare event, Arab Health. Now in its 22nd year, this annual medical laboratory meeting brings exhibitors and attendees from over 180 countries.
Medlab Middle East concludes today, 9 February, having taken place during the last four days at the Dubai World Trade Centre, Dubai, UAE. A digital event takes place 9 March 2023.
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