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Jajum Pharma Announces PIF Partnership Developments
Jamjoom Pharmaceutical Company ("Jamjoom Pharma") announced significant developments in its partnership with Levera, a company owned by the Public Investment Fund. This was through the signing of a share subscription agreement with BioTopics to establish a facility dedicated to the manufacturing and marketing of vaccines and biopharmaceuticals within Saudi Arabia. Jamjoom Pharma will hold a 49% stake in the new company, while Levera will own 51%. The partnership aims to enhance pharmaceutical security and localize vital industries. The shareholders are committed to funding the company over a five-year period. All regulatory procedures and approvals are expected to be completed before the deal is finalized.
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