Mubadala to buy specialty pharma company Kelix bio

Mubadala to buy specialty pharma company Kelix bio

Abu Dhabi’s Mubadala Investment Company has signed a definitive agreement to acquire Kelix bio, a specialty pharmaceutical business in the UAE that focuses on delivering complex generics across emerging markets. The acquisition is set to boost the UAE’s global standing in life sciences, state-own Abu Dhabi Media Office reported, quoting a Mubadala statement. The stake […]Abu Dhabi’s Mubadala Investment Company has signed a definitive agreement to acquire Kelix bio, a specialty pharmaceutical business in the UAE that focuses on delivering complex generics across emerging markets.

The acquisition is set to boost the UAE’s global standing in life sciences, state-own Abu Dhabi Media Office reported, quoting a Mubadala statement.

The stake was purchased from a consortium of investors, including Development Partners International, British International Investment, the UK’s development finance institution and impact investor, and the European Bank for Reconstruction and Development.

No financial details were shared. The transaction is subject to regulatory approvals.

Kelix Bio was founded in November 2020 and has since acquired manufacturing businesses in India, Egypt, Malta and Morocco. It has commercialised a wide range of oral and injectable formulations for diverse therapy areas, including diabetes, oncology, cardiology and central nervous systems.

The acquisition will further advance Mubadala’s position in the life sciences