Mubadala’s Kelix bio acquires GHH’s pharma assets to expand its life sciences portfolio

UAE-based GHH is a healthcare division of Yas Holding investment company

Abu Dhabi's Mubadala Investment Company completed the Kelix bio acquisition in September. Photo: Mubadala

Mubadala Investment Company’s unit Kelix bio has bought four of GlobalOne Healthcare Holding’s (GHH) pharma assets in an effort to develop the UAE’s life sciences ecosystem.

As part of the deal, Kelix bio acquired GHH’s Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma, Mubadala said in a statement on Monday. The total transaction value was not disclosed.

GHH is a healthcare division of the UAE-based investment company Yas Holding that has interests in sectors including health care, aviation, technology and real estate.

The latest deal was concluded after Mubadala last month bought Kelix bio, an emerging markets-focused speciality pharmaceutical company.

“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," Bakheet Al Katheeri, chief executive of UAE Investments Platform at Mubadala, said.

"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."

More to follow...