Mubadala’s KELIX bio Acquires Four GlobalOne Healthcare Holding Pharma Assets to Strengthen Life Sciences Presence in the UAE

Abu Dhabi, 07 October 2024 – Following the closing of the acquisition of KELIX bio, Mubadala Investment Company PJSC “Mubadala”, an Abu Dhabi sovereign investor, has strengthened its new specialty pharmaceutical business through the acquisition of a 100% stake in four of GlobalOne Healthcare Holding’s (GHH) pharma assets:Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma.

These pharma assets include cutting-edge biopharma and IV solutions manufacturing and the integration of these assets into KELIX bio’s ecosystem marks a significant advancement of their expanded capabilities. Each asset brings a unique set of strengths to the portfolio:

• Bioventure, a prominent UAE-based biopharmaceutical firm with global presence. It specializes in biotech and generics commercialization, as well as tech transfer and in/out-licensing activities.
• Bioventure Healthcare, established as the region's top producer of soft gelatin capsules for pharmaceutical and supplement products, currently expanding into oral solids and injectables.
• Gulf Inject, recognized for its expertise in sterile fluid management therapy, parenteral therapy, and healthcare manufacturing solutions.
• Wellpharma, a leader in the production of intravenous therapies (IV) and dialysis, along with other therapeutic products across the UAE and MENA region.

Dr. Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala said: “The swift closing of the KELIX bio acquisition and this subsequent transaction demonstrate our commitment as an active asset manager 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 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.”

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.”

Low Ping, Group CEO Yas Holding commented: “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."

KELIX bio's acquisition of four GHH assets represents a significant step toward enhancing the UAE's local life science capabilities through strategic investments. This move aligns with government initiatives like ‘Operation 300bn’ and ‘Make it in the Emirates’, both of which aim to strengthen the country's manufacturing sector. These acquisitions further Mubadala's efforts to establish an Abu Dhabi-based national pharma champion, enhancing the UAE's pharmaceutical infrastructure, addressing prevalent diseases, securing drug supply, reducing healthcare costs, and progressing the nation toward a knowledge-based economy.