Mubadala Investment Company has empowered its new specialty pharmaceutical business, KELIX Bio, to acquire a 100 per cent stake in four pharma assets of GlobalOne Healthcare Holding (GHH).
The four GlobalOne assets previously owned by Yas Holdings are Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma. The financial details of the deal were not disclosed.
This strategic move consolidates Mubadala’s presence in the life sciences ecosystem, advances the UAE’s life sciences sector, and positions the country as a global industry leader.
KELIX Bio strengthens portfolio
GHH’s pharma assets include biopharma and IV solutions manufacturing, which will significantly advance KELIX Bio’s capabilities.
Bioventure is a prominent UAE-based biopharmaceutical firm with global presence. It specialises in biotech and generics commercialisation, as well as tech transfer and in/out-licensing activities. Bioventure Healthcare is the region’s top producer of soft gelatin capsules for pharmaceutical and supplement products. It is also expanding into oral solids and injectables.
Gulf Inject is known for its expertise in sterile fluid management therapy, parenteral therapy, and healthcare manufacturing solutions, while Wellpharma is a leader in the production of intravenous therapies (IV) and dialysis across the UAE and MENA region.
The Abu Dhabi sovereign investor acquired DIFC-headquartered KELIX Bio in September this year. The specialty pharmaceutical company, formed in November 2020, had acquired manufacturing businesses in India, Egypt, Malta and Morocco and successfully commercialised a wide range of oral and injectable formulations covering diverse areas like diabetes, oncology, cardiology, and central nervous systems.
Dr Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala, commented: “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.”
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.”
The four GHH assets significantly enhance 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’, and also advances Mubadala’s efforts to establish a national pharma champion based in Abu Dhabi.
Ismail Ali Abdulla, Head of UAE Clusters, at Mubadala’s UAE Investments Platform, 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.”
Low Ping, Group CEO of Yas Holding, said divesting the subsidiaries was a strategic decision for his company.
“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,” said Ping.
Follow us on
