(Photo : www.kelixbio.com)

Kelix Bio, Mubadala's newly attained specialty pharmaceutical business unit,has acquired four pharma assets from UAE investment company Yas Holding's GlobalOne Healthcare Holding (GHH), the Abu Dhabi sovereign investor announced on Monday.

The acquisition of Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma come as a part of Mubadala's ongoing strategic investment efforts to expand the life sciences ecosystem of UAE.

The latest move has helped strengthen presence of the Abu Dhabi investor in the life sciences ecosystem of the nation, accelerate UAE's growth in life sciences sectorand helped raise the nation as a global industry leader and bring in economic diversification,Mubadala said in a statement.

It was in March 2024, Mubadala, which has a portfolio of $302 billion,signed an agreement to acquire Kelix Bio,a specialty pharmaceutical businessdealing with a wide range of oral and injectable formulations for diabetes, cardiology, central nervous system and oncology, from a group of investors like the European Bank for Reconstruction and Development, Development Partners International and British International Investment. The acquisition was completed in 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,"while seeking more partnershipsand investments, Dr. Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala, stated.

"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," he added later.

Through the acquisitions, Mubadala said, it aims at building a 'national pharma champion' to improve pharmaceutical infrastructure in UAE. Through its latest move, the company expected tofind solutions to prevalent diseases, improve drug supplies, bringdown healthcare costs and build a knowledge-based economy.

"This decision aligns with our commitment to enhancing healthcare access and innovation across the region," Low Ping, Group CEO Yas Holding, said.

She later added that she is confident that Kelix Bio and its newly acquired assets would help improve healthcare sector in UAE:"We look forward to witnessing their continued growth and the positive impact they will have on the life science sector at large."

Founded in 2020, Kelix bio has manufacturing facilities in Maltta, India, Egypt and Morocco and its products are being exported to over 40 countries.