UAE - Mubasher: Abu Dhabi-based Mubadala Investment Company has invested around $250 million in Nasdaq-listed Certara, specialised in biosimulation.
The investment is in line with Mubadala’s strategy to deploy innovation in tackling unmet clinical needs and driving cost efficiencies, according to a recent press release.
Mubadala and certain existing institutional shareholders of Certara have signed an agreement, under which an affiliate of Mubadala will buy an aggregate of 9.615 million shares at $26 per share.
The private transaction is scheduled to close on 2 August 2021, and EQT will remain a significant shareholder in the company.
Commenting on the agreement, the CEO of Certara, William F. Feehery, said: "As a newly listed public company, we are excited by Mubadala’s recognition of Certara’s performance and position as a global leader in biosimulation, especially as we execute on our next phase of growth."
The Head of Life Sciences at Mubadala, Camilla Languille, referred: "Biosimulation is transforming traditional drug development via computational approaches that save time and cost throughout the entire biopharma R&D process."
