Bishkek, Feb. 13, 2024. /Kabar/. President Sadyr Zhaparov today met with Managing Director of Newpath Partners Thomas Cahill on the sidelines of the World Government Summit in Dubai, press service of the head of state reported.
Newpath Partners is a venture capital firm focused on investing in life sciences. Its main goal is to support science entrepreneurs at the earliest stages of scientific research.
In 2018, it launched its first project to build a portfolio of companies including Prime Medicine, Chroma Medicine, Kojin Therapeutics, Exo Therapeutics, Kisbee Therapeutics and Myeloid Therapeutics. With its assistance, 16 investments were attracted. The latest investment was raised on September 25, 2023 from Nvelop Therapeutics for US$100 million. Newpath Partners also helped make 3 investments on March 1, 2023, when Chroma Medicine was able to raise $135 million.
Sadyr Zhaparov noted with satisfaction that Kyrgyzstan pays special attention to close cooperation with foreign organizations and investors in various fields. The state strives to create favorable conditions for foreign investors and pays special attention to the development of new mechanisms.
The head of state emphasized that the energy sector has been identified as a long-term priority area for investment. Kyrgyzstan has great renewable energy potential, but uses only 13 percent of its hydropower potential. In this regard, he emphasized that in Kyrgyzstan there is a great opportunity to invest in the energy sector, which is the most promising and economically useful.
In turn, Managing Director of Newpath Partners, Thomas Cahill, expressed his readiness and commitment to substantive cooperation with Kyrgyzstan to implement joint projects. He noted that he would study the investment attractiveness of the country with great interest. Following the meeting, the parties outlined the importance of building up and intensifying mutually beneficial cooperation.
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