MARKET MOVEMENT
Mubadala ’ s KELIX bio acquires GlobalOne Healthcare pharma assets in UAE
Following the closing of the acquisition of KELIX bio , Mubadala Investment Company empowered its new specialty pharmaceutical business to acquire 100 % stake in four GlobalOne Healthcare Holding ’ s , GHH pharma assets , including Bioventure , Bioventure Healthcare , Gulf Inject and Wellpharma .
This strategic move consolidates Mubadala ’ s presence in the life sciences ecosystem , advances the UAE ’ s life sciences sector , and positions the nation as a global industry provider while supporting economic diversification . In March 2024 , Mubadala entered into a definitive agreement to acquire KELIX bio , a specialty pharmaceutical business focused on delivering complex generics across emerging markets . The acquisition was successfully closed in September .
GHH ’ s pharma assets include biopharma and IV solutions manufacturing . Integrating these assets into KELIX bio ’ s ecosystem significantly advances their expanded capabilities . Each asset brings unique strengths to the portfolio .
Bioventure is a prominent UAE-based biopharmaceutical firm with global presence . It specializes in biotech and generics commercialisation , as well as tech transfer and in , out-licensing activities .
Bioventure Healthcare , established as the region ’ s top producer of soft gelatine capsules for pharmaceutical and supplement products , currently expanding into oral solids and injectables .
Gulf Inject is recognised for its expertise in sterile fluid management therapy , parenteral therapy , and healthcare manufacturing solutions .
Wellpharma is a provider in the production of intravenous therapies , IV and dialysis , along with other therapeutic products across the UAE and MENA region .
Dr Bakheet Al Katheeri , Chief Executive Officer of UAE Investments Platform at Mubadala , stated : “ 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 .”
Ismail Ali Abdulla , Head of UAE Clusters , at Mubadala ’ s UAE Investments Platform said , “ This acquisition reinforces our strategic intent to position the UAE at the forefront of the life sciences ecosystem on a global scale .”
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Co-founders of data centre provider Polar secure investment from HIG Infrastructure worth € 500m
Fiorenzo Manganiello and Nessim-Sariel Gaon , co-founders of data centre firm PolarDC Group have secured capital investment from HIG Infrastructure , in a deal worth up to € 500 million . The move signals the pair ’ s plans to further scale Polar and invest heavily in firms meeting the market demand for emerging technologies .
Polar develops , owns , and operates data centre infrastructure targeting high-performance computing applications , including AI . The Company has multiple data centre facilities in Norway and is actively developing additional locations across Europe . Its first data centre , located in southern Norway , will provide up to 48MW of IT capacity once fully operational .
The co-founders launched Polar in 2021 after identifying the rapidly growing demand for AI infrastructure . Anticipated debt financing of € 350 million will bring the total value of the transaction to € 500 million , with HIG investing up to € 150 million and gaining a majority stake in the Company .
The development of AI technology is expanding the data centre market rapidly and is predicted to drive a 160 % increase in power demand by 2030 , Goldman Sachs . The amount of computing power that AI models consume generally doubles every six months , Epoch AI , and the demand outlook is robust , requiring data centre operators such as Polar to continue to scale accordingly .
The duo plan to continue expanding the company to meet the growing demand and support the continuous development of innovation across the AI ecosystem .
Manganiello and Gaon will continue to play an essential role at Polar , retaining a minority stake through their investment firm , LIAN Group , which they also co-founded together in 2019 . The pair will bring their years of expertise in digital infrastructure to support the Company ’ s next phase of growth , remaining close to its day-today operations . •
Fiorenzo Manganiello and Nessim-Sariel Gaon
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