Following the acquisition of KELIX bio, Mubadala Investment Company, an Abu Dhabi sovereign investor, has empowered its new specialty pharmaceutical business to acquire a 100 percent 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. Mubadala successfully closed the acquisition last September.
“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,” stated Dr. Bakheet Al Katheeri, CEO of UAE Investments Platform at Mubadala.
Advancing KELIX bio’s capabilities
GHH’s pharma assets include cutting-edge biopharma and IV solutions manufacturing. Integrating these assets into KELIX bio’s ecosystem significantly advances its capabilities. Each asset brings unique strengths to the portfolio.
GHH serves as the dedicated healthcare division of Yas Holding LLC. It focuses on enhancing healthcare outcomes by investing in biopharmaceuticals and healthcare services.
Bioventure is a prominent UAE-based biopharmaceutical firm with a global presence. It specializes in biotech and generics commercialization, as well as tech transfer and in/out licensing activities. Meanwhile, Bioventure Healthcare established itself as the region’s top producer of soft gelatin capsules for pharmaceutical and supplement products. The company is currently expanding into oral solids and injectables.
Mubadala’s KELIX bio will also acquire Gulf Inject, an expert in sterile fluid management therapy, parenteral therapy, and healthcare manufacturing solutions. Moreover, it will acquire Wellpharma, a leader in the production of intravenous therapies (IV) and dialysis. The company also produces other therapeutic products across the UAE and MENA region.
For his part, 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.”
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Supporting UAE’s pharmaceutical infrastructure
The acquisition of four GHH assets by Mubadala’s KELIX bio significantly enhances the UAE’s local life sciences capabilities through strategic investments. This move also aligns with government initiatives like ‘Operation 300bn’ and ‘Make it in the Emirates’.
Furthermore, KELIX bio’s acquisitions advance Mubadala’s efforts to establish a national pharma champion in Abu Dhabi. They also enhance the UAE’s pharmaceutical infrastructure, address prevalent diseases, secure drug supply, reduce healthcare costs, and progress the nation toward a knowledge-based economy.
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