Mubadala to acquire international biopharma firm KELIX bio

Image: WAM

Mubadala has announced it will acquire KELIX bio, a pharmaceutical company specialising in complex generics across emerging markets.

The sovereign investor has signed a definitive agreement to the effect, solidifying its commitment to support the development of the UAE’s life sciences ecosystem.

In a press statement, the European Bank for Reconstruction and Development, Development Partners International, an investment firm focused on Africa, and British International Investment (BII), the UK government’s development finance institution, also announced the sale of 100 per cent of the shares in KELIX bio, to Mubadala.

KELIX bio, founded in November 2020, has emerged as a key player in the pharmaceutical industry, boasting successful acquisitions of manufacturing businesses in India, Egypt, Malta, and Morocco.

Today, we announce our acquisition of KELIX Bio, a specialty pharmaceutical business focused on manufacturing biopharmaceuticals across emerging markets, to further position the UAE as a significant player in the global pharmaceutical manufacturing sector. pic.twitter.com/Zsw10PUbi7

— Mubadala (@Mubadala) March 25, 2024

KELIX bio encompasses a diverse portfolio

The biopharma platform has effectively commercialised a diverse portfolio of oral and injectable formulations spanning therapeutic areas such as diabetes, oncology, cardiology and central nervous systems.

Its revenues now exceed $150m and the critical medicines it produces are available in over 50 countries across Africa, Latin America, Southeast Asia and the Middle East.

Mubadala aims to propel the UAE onto the global stage in the life sciences domain, leveraging KELIX bio’s expertise in pertinent therapy areas.

Dr Bakheet Al Katheeri, CEO of Mubadala’s UAE Investments Platform, emphasised the acquisition’s alignment with Mubadala’s overarching goal of driving economic diversification and creating long-term socio-economic impact.

“By bolstering our presence in the life sciences sector, we aim to deliver tangible benefits to our nation, including enhanced healthcare, drug security, job creation, and GDP impact,” he said.

Hocine Sidi-Said, co-founder, and CEO at KELIX bio, said: “This collaboration promises not only economic returns but also a lasting societal impact, augmenting the nation’s healthcare landscape and advancing critical therapeutic areas such as diabetes, oncology and biologics.”