Mubadala’s KELIX bio Completes Acquisition of Four GlobalOne Healthcare Holding Pharma Assets

ABU DHABI: Mubadala Investment Company PJSC has successfully acquired a 100% stake in four key pharma assets from GlobalOne Healthcare Holding, under its newly acquired specialty pharmaceutical division, KELIX bio. This strategic acquisition includes Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma, significantly bolstering the UAE's position in the global life sciences sector and supporting the nation's economic diversification. According to Emirates News Agency, the transaction follows Mubadala's definitive agreement in March 2024 to acquire KELIX bio, which was finalized in September of the same year. The integration of these assets from GlobalOne Healthcare Holding enhances KELIX bio's capabilities in biopharmaceuticals and intravenous (IV) solutions, positioning it for accelerated growth and innovation in the life sciences industry. Dr. Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala, highlighted the rapid execution of the acquisition and its strategic importance. "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," he said. Ismail Ali Abdulla, Head of UAE Clusters at Mubadala's UAE Investments Platform, emphasized the acquisition's alignment with the UAE's broader strategic goals. "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," Abdulla noted. Hocine Sidi Said, CEO of KELIX bio, expressed enthusiasm about the potential growth opportunities following the acquisition. "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 busines ses and their colleagues into the KELIX bio network is exciting as it accelerates our path to becoming a global life science leader," he stated. Low Ping, Group CEO of Yas Holding, also commented on the divestiture, underlining its strategic rationale. "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," Ping said. The acquisitions align with Mubadala's ongoing efforts to establish a national pharmaceutical champion in Abu Dhabi and support government initiatives like "Operation 300bn" and "Make it in the Emirates," aimed at bolstering the country's manufacturing sector.