Mubadala's KELIX Bio Acquisition Of GlobalOne Healthcare Assets Strengthens UAE Life Sciences Sector

Mubadala Investment Company PJSC has taken a significant step by acquiring a full stake in four of GlobalOne Healthcare Holding’s (GHH) pharmaceutical assets. This acquisition includes Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma. This strategic move strengthens Mubadala's influence in the life sciences sector and supports the UAE's goal of becoming a global leader in this industry while promoting economic diversification.

In March 2024, Mubadala finalised an agreement to acquire KELIX bio, a specialty pharmaceutical company focused on complex generics for emerging markets. The acquisition was completed last September. GHH’s pharma assets include advanced biopharma and IV solutions manufacturing. Integrating these assets into KELIX bio enhances their capabilities significantly.

Dr. Bakheet Al Katheeri, CEO 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, remarked that this acquisition aligns with their strategy to place the UAE at the forefront of the global life sciences ecosystem. It aids in economic diversification and generates socio-economic benefits while reaffirming Mubadala’s ambitions within the sector.

He further added that as responsible investors, they continue to nurture future-centric solutions that boost GDP, create jobs, foster innovation, and enhance medical security. These efforts shape communities with lasting impact.

Hocine Sidi Said, CEO of KELIX bio, expressed enthusiasm about integrating GHH assets into their network. He said it strengthens their presence in the UAE and provides access to more 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," he noted.

Yas Holding's Strategic Shift

Low Ping, Group CEO of Yas Holding, commented on divesting these subsidiaries to KELIX bio as a strategic shift for Yas Holding. This decision aligns with their commitment to improving healthcare access and innovation across the region. They are confident that under KELIX bio's leadership, Wellpharma, Gulf Inject, Bioventure Healthcare, and Bioventure will thrive and significantly contribute to healthcare.

The acquisition of GHH assets by KELIX Bio boosts local life sciences capabilities through strategic investments. This move aligns with government initiatives like ‘Operation 300bn’ and ‘Make it in the Emirates’, aimed at strengthening manufacturing sectors. These acquisitions support Mubadala's efforts to establish a national pharma champion based in Abu Dhabi.

GlobalOne Healthcare Holding LLC (GHH), part of Yas Holding LLC, focuses on enhancing healthcare outcomes by investing in biopharmaceuticals and services. The integration of GHH’s assets into KELIX bio advances pharmaceutical infrastructure in the UAE by addressing prevalent diseases and securing drug supply.

This acquisition marks a significant milestone for Mubadala as it continues its journey towards establishing a robust life sciences sector in the UAE. By integrating these new assets into its portfolio, Mubadala is poised to make substantial contributions to both local healthcare advancements and broader economic goals.

With inputs from WAM