Mubadala's KELIX Bio Acquires Four Pharma Assets From GlobalOne Healthcare To Enhance UAE Life Sciences

In a significant development for the UAE's life sciences sector, Mubadala Investment Company PJSC, a sovereign investor based in Abu Dhabi, has finalized the purchase of a 100% stake in four pharmaceutical assets from GlobalOne Healthcare Holding (GHH).

This acquisition, following the completion of the KELIX bio deal, marks a pivotal moment in reinforcing Mubadala's commitment to fostering the growth of the life sciences ecosystem in the region. The assets, including Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma, bring a wealth of specialized pharmaceutical capabilities to the table, enhancing the UAE's standing as a leader in the global industry and furthering economic diversification efforts.

The assets acquired from GHH are set to bolster the UAE's pharmaceutical infrastructure significantly. These include state-of-the-art biopharmaceutical and intravenous solutions manufacturing facilities. By integrating these assets, KELIX bio's operational capabilities are markedly expanded. Bioventure emerges as a key player with its focus on the commercialization of biotech and generics, alongside tech transfer activities.

Meanwhile, Bioventure Healthcare leads in soft gelatin capsule production, extending its reach into oral solids and injectables. Gulf Inject specializes in sterile fluid management and healthcare solutions, with Wellpharma taking a leading role in intravenous therapies and dialysis production within the UAE and the broader MENA region.

Dr. Bakheet Al Katheeri, CEO of UAE Investments Platform at Mubadala, elucidated on the strategic significance of these acquisitions, stating, "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."

This strategic move is aligned with national initiatives aimed at bolstering the UAE's manufacturing sector, notably 'Operation 300bn' and 'Make it in the Emirates’. These efforts are designed to enhance the country's pharmaceutical capabilities, tackle prevalent diseases, secure drug supplies, reduce healthcare costs, and guide the nation towards a knowledge-based economy.

Ismail Ali Abdulla, Head of UAE Clusters at Mubadala's UAE Investments Platform, highlighted the broader implications of the acquisition. He 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." Abdulla further elaborated on Mubadala's role in fostering innovation and strengthening medical security to ensure lasting benefits for the community.

Hocine Sidi Said, CEO of KELIX bio, expressed enthusiasm about the acquisition's potential impact, stating, "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 of Yas Holding, commented on the divestment's strategic importance, "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."