Mubadala Acquires Majority Stakes in Global Medical Supply Chain and Al Ittihad Drug Store, Bolstering UAE's Life Sciences Logistics and Distribution Capabilities

• A strategic move that further supports Mubadala’s efforts to advance the UAE's life sciences sector
• Following the acquisition of four GlobalOne Healthcare Holding assets, this transaction represents the fifth strategic acquisition by KELIX bio since being acquired by Mubadala in March 2024

Abu Dhabi, 16 January 2025: KELIX bio, wholly owned by Mubadala Investment Company “Mubadala”, an Abu Dhabi sovereign investor, has completed the acquisition of DiabTec LLC, a subsidiary of Julphar. This acquisition strengthens Mubadala's portfolio of biologicals, establishes its role in biomanufacturing across the MENA region, and supports its efforts to advance the UAE's life sciences sector through local manufacturing. 

DiabTec's facility includes 20,000-liter drug substance reactors and a separate cartridge fill-finish facility for drug products. The state-of-the-art facility is built to EU/US FDA standards and is currently the only one in the GCC of this kind.

This strategic acquisition aligns with Mubadala's commitment to responsible investing, which focuses on addressing critical global challenges including the growing prevalence of diabetes, and demand for microbial based products such as insulin analogues and GLP-1 to treat such conditions locally and abroad.

Dr. Bakheet Al Katheeri, Chief Executive Officer of Mubadala’s UAE Investments Platform, said: “The acquisition of DiabTec by KELIX bio is a significant milestone for Mubadala, further strengthening our nation's position in the global life sciences ecosystem. This strategic investment reflects our commitment to responsible investing, addressing critical global healthcare challenges like the growing need for insulin analogues. Moreover, it strengthens Mubadala's portfolio of biologicals, establishes our role in biomanufacturing across the MENA region, and advances the UAE's life sciences sector through local manufacturing.”

Ismail Ali Abdulla, Executive Director of UAE Clusters at Mubadala's UAE Investments Platform, said: " Mubadala recognizes the critical importance of ensuring reliable access to therapeutic solutions like insulin analogues, particularly in light of growing global demand and supply challenges. The acquisition of DiabTec is a direct response to this need. This move not only strengthens Mubadala’s and the UAE's life sciences sector but also underscores our commitment to improving global health outcomes by contributing to a more secure and sustainable insulin analogue supply chain.”

Sheikh Saqer Bin Humaid Al Qasimi, Chairman of the Board, Julphar, said: “The sale of this facility is a further step in Julphar’s strategy to divest non-core assets. Julphar supports Mubadala’s initiative to strengthen the pharmaceutical sector in the United Arab Emirates and to build broader API manufacturing capabilities in the country.”

Hocine Sidi Said, CEO of KELIX bio further commented: "The acquisition of DiabTec highlights Mubadala’s commitment to our expansion and to back the growth of the UAE life sciences sector. With the rising number of diabetes patients globally, access to insulin analogues remains a challenge in many regions. To address this challenge, KELIX bio aims to improve access to critical treatments, ensuring that those in need can receive the care they require."

The move further consolidates Mubadala’s footprint in the life science ecosystem, advances the UAE’s life sciences sector, and positions the nation as a global leader in the industry whilst supporting its economic diversification. It also complements KELIX bio’s recent acquisition of four GlobalOne Healthcare Holding assets.