- This move underscores Mubadala's commitment to supporting the UAE's vision of becoming a global leader in the life sciences sector.
- The acquisition of four GlobalOne Healthcare Holding assets by KELIX Bio represents Mubadala's ongoing strategic investment in the UAE's life sciences ecosystem.
- This acquisition further supports KELIX bio's regional growth and strengthens its position in the UAE.
Abu Dhabi, 14 October 2024 – Following the closing of the acquisition of KELIX bio, Mubadala Investment Company PJSC 'Mubadala', an Abu Dhabi sovereign investor, has empowered its new specialty pharmaceutical business to acquire a 100% stake in four of GlobalOne Healthcare Holding's (GHH) pharma assets which include Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma. This strategic move consolidates Mubadala's presence in the life sciences ecosystem, advances the UAE's life sciences sector, and positions the nation as a global industry leader while supporting economic diversification.
In March 2024, Mubadala entered into a definitive agreement to acquire KELIX bio, a specialty pharmaceutical business focused on delivering complex generics across emerging markets. The acquisition was successfully closed last September.
GHH's pharma assets include cutting-edge biopharma and IV solutions manufacturing. Integrating these assets into KELIX bio's ecosystem significantly advances their expanded capabilities. Each asset brings unique strengths to the portfolio:
- Bioventure, a prominent UAE-based biopharmaceutical firm with global presence. It specializes in biotech and generics commercialization, as well as tech transfer and in/out-licensing activities.
- Bioventure Healthcare, established as the region's top producer of soft gelatin capsules for pharmaceutical and supplement products, currently expanding into oral solids and injectables.
- Gulf Inject, recognized for its expertise in sterile fluid management therapy, parenteral therapy, and healthcare manufacturing solutions.
- Wellpharma, a leader in the production of intravenous therapies (IV) and dialysis, along with other therapeutic products across the UAE and MENA region.
Dr. Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala, stated: 'The rapid completion of the KELIX bio acquisition and this subsequent transaction demonstrate our commitment to building a thriving life sciences sector in the UAE and supporting our nation's ambition for a knowledge-based economy. We continue to seek partnerships and investments that align with our strategic goals, as we aim to generate value for our stakeholders while strengthening the UAE's position in this critical global industry. KELIX bio and its assets are well positioned for accelerated growth and will enable us to deliver on our ambition of creating a regional life sciences champion.'
Ismail Ali Abdulla, Head of UAE Clusters, at Mubadala's UAE Investments Platform said: 'This acquisition reinforces our strategic intent to position the UAE at the forefront of the life sciences ecosystem on a global scale. It contributes to our nation's economic diversification, creates valuable socio-economic returns, and reaffirms Mubadala's ambitions within the sector.'
He added: 'Being a responsible investor we continue to nurture future-centric solutions that boost our nation's GDP, increase job creation, foster innovation, and strengthen medical security, shaping the future of our communities with lasting impact.'
Hocine Sidi Said, CEO of KELIX bio added: 'The acquisition of GHH assets considerably strengthens our presence in the UAE and provides us access to a greater pipeline of products and technologies. Bringing these businesses and their colleagues into the KELIX bio network is exciting as it accelerates our path to becoming a global life science leader.'
Low Ping, Group CEO Yas Holding commented: 'Divesting these subsidiaries to KELIX bio marks a strategic pivot for Yas Holding. This decision aligns with our commitment to enhancing healthcare access and innovation across the region. We are confident that under KELIX bio's stewardship, Wellpharma, Gulf Inject, Bioventure Healthcare, and Bioventure will continue to thrive and contribute significantly to the healthcare landscape. We look forward to witnessing their continued growth and the positive impact they will have on the life science sector at large.'
The acquisition of four GHH assets by KELIX Bio significantly enhances the UAE's local life sciences capabilities through strategic investments. This move aligns with government initiatives such as 'Operation 300bn' and 'Make it in the Emirates', which aim to strengthen the country's manufacturing sector. These acquisitions advance Mubadala's efforts to establish a national pharma champion based in Abu Dhabi. They enhance the UAE's pharmaceutical infrastructure, address prevalent diseases, secure drug supply, reduce healthcare costs, and progress the nation toward a knowledge-based economy.
GlobalOne Healthcare Holding LLC (GHH) serves as the dedicated Healthcare Division of Yas Holding LLC, focusing on enhancing healthcare outcomes by investing in biopharmaceuticals and healthcare services.
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