Abu Dhabi’s Mubadala Investment Company recently announced that it partnered with CBC Group, Asia’s largest healthcare-dedicated asset management group, to acquire 100 percent ownership in the carve-out of UCB Pharma’s mature business in China.
UCB is a global biopharmaceutical company with headquarters in Belgium. The company occupies a market-leading position in the strong and expanding immunology, neurology, and rare disease market in China. In addition, its Central Nervous System (CNS) originator drug portfolio is set for growth.
“CNS is a large and growing therapeutic area in China that has an urgent clinical need. We look forward to building out a broader CNS-focused platform to benefit the China market,” said Mina Hamoodi, head of healthcare at Mubadala.
Transaction to close in Q4
The scope of Mubadala’s acquisition includes UCB’s neurology portfolio and allergy portfolio in Mainland China. In addition, it includes UCB’s Zhuhai manufacturing site. In 2023, the company’s total net sales for these medicines in China reached 131 million euros.
The transaction remains subject to certain closing conditions, including mandatory anti-trust clearances and other customary conditions, and will likely close in Q4 of 2024.
This investment aligns with Mubadala’s vision to expand its footprint across Asia through selective investment across diverse sectors with strong growth potential. Healthcare, and specifically pharma carve-outs, are at the forefront of this investment strategy.
The strategic collaboration with CBC Group follows the Hasten Biopharma acquisition. It also underscores Mubadala’s ongoing commitment to establishing platforms to target and serve unmet needs in China and the broader Asia healthcare markets.
Singapore’s CBC Group is Asia’s largest healthcare asset management firm with an AUM of $8.8 billion. With a diverse, multi-product strategy, CBC Group focuses on platform-building, buyouts, private credit and royalties. In addition, it focuses its investments in real estate across the healthcare space. This includes pharmaceutical, biotech, medical technology, and healthcare services.
Advancing UCB’s medicine portfolio
“In the short term, UCB is exploring the launch of novel medicines in immunology, neurology, and rare diseases in China,” stated Jean-Christophe Tellier, CEO of UCB.
Tellier added that UCB seeks to build on its 28-year presence in the country by driving patient outcomes. In addition, the company seeks to foster innovation and collaborations with local partners, including Mubadala. With approximately 9,000 people in approximately 40 countries, the company generated revenue of 5.3 billion euros in 2023.
Commenting on the agreement, Tellier added: “Mubadala and CBC Group are the ideal partners to advance the medicine portfolio and continue to improve the lives of people living with neurology and allergy diseases in mainland China.”
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