By Yousef Saba

RIYADH (Reuters) -SandboxAQ, a U.S.-based artificial intelligence and quantum technology firm, signed an agreement with Bahrain’s sovereign wealth fund on Monday aimed at speeding up the development of drugs and creating biotech assets worth $1 billion.

The deal, announced on the sidelines of Saudi Arabia’s flagship investment conference, the Future Investment Initiative in Riyadh, will see Bahrain’s Mumtalakat license SandboxAQ’s large quantitative models trained on physics, chemistry and biology to accelerate drug discovery and scientific research.

“The collaboration will help position Bahrain as a regional biotech hub, with a joint research committee guiding a three-year program aimed at developing valuable new drugs,” they said in a statement.

SandboxAQ CEO Jack Hida

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