UAE – Mubasher: Mubadala Investment Company has acquired a 100% stake in KELIX bio, a leading emerging markets biopharmaceuticals platform.
The sold stake represents the full ownership of Development Partners International (DPI), an investment firm focused on Africa; British International Investment (BII), the UK’s development finance institution; and the European Bank for Reconstruction and Development (EBRD) in KELIX bio, according to a press release.
The deal’s closure is pending regulatory approval. Allen & Overy LLP acted as legal advisor to DPI, BII, and EBRD on the transaction.
Hocine Sidi-Said, CEO of KELIX bio, said: “KELIX bio has established an excellent operational track record. DPI, BII, EBRD and wider investors have been very supportive, providing the investment KELIX bio needed to achieve our ambitions.”
Sofiane Lahmar, Partner at DPI, commented: “We are delighted to announce the sale of KELIX bio to Mubadala. Since we established the business with our partners, we have worked closely with management to create a unique buy-and-build platform that increases the availability and affordability of quality drugs across Africa and the Middle East.”
Samir Abhyankar, Managing Director at BII, said: “KELIX bio has helped to tackle the challenges facing patients and healthcare systems in emerging markets by providing affordable, life-saving treatments and increasing the range and quality of products available while aiming to reduce the incidences of counterfeit products in the market."
Frederic Lucenet, Global Head of Manufacturing and Services at EBRD, noted: “We have been pleased to play an important part in the launch of the platform to accelerate the delivery of critical drugs in Egypt and Morocco, and this underscores our commitment to developing the pharmaceutical industry in our countries of operation.”
KELIX bio was established in 2020 by investors DPI, BII, EBRD, and executives Hocine Sidi Said and Alhadi Alwazir.
The platform was considered the first pan-African biopharmaceutical platform working to broaden access to vital speciality generic drugs across emerging markets worldwide.
Since its inception, KELIX bio has made several major investments. It now has four subsidiaries: Adwia in Egypt, Celon Labs in India, Kelix Bio Malta, and PHI in Morocco, operating across six countries.
KELIX bio’s products are available in over 50 countries across Africa, Latin America, Southeast Asia, and the Middle East.
In February 2024, Mubadala Investment Company, the Abu Dhabi investor which holds $276 billion in assets under management, signed a $1 billion separately managed account with and Goldman Sachs to co-invest in the Asia Pacific region.
