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KELIX bio closes DiabTec acquisition: KELIX bio, the biotech arm of Abu Dhabi sovereign wealth fund Mubadala, finalized the acquisition of DiabTec LLC, a subsidiary of Emirati pharma firm Julphar, which focuses on human insulin API manufacturing, according to a statement. The value of the acquisition was not disclosed in the statement.
The acquisition includes DiabTec’s facility, which features 20k-liter drug substance reactors and a dedicated fill-finish unit for drug products, built to EU and US Food and Drug Administration standards. It is the only facility of its kind in the GCC.
We knew this was coming: Julphar finalized the sale of DiabTec in December, announcing at the time that the transaction — representing 12.6% of its total assets — would positively impact its net income by late 2024 or 1Q 2025. The company also confirmed plans to secure insulin API through a supply agreement with DiabTec as part of the deal.
ICYMI: Mubadala has been actively expanding its healthcare and pharma portfolio, acquiring an 80% stake in healthcare logistics firm Global Medical Supply Chain and Al Ittihad Drug Store from Yas Holdings in December. Earlier, in October, KELIX bio acquired four biopharma and IV solutions assets, including Bioventure and Gulf Inject, from Yas Holdings’ GlobalOne Healthcare Holding.
IN OTHER M&A NEWS-
Investcorp to acquire alternative payments enabler Epipoli: Asset manager Investcorp signed a definitive agreement to acquire Milan-based alternative payments enabler Epipoli from Bregal Milestone and founder and CEO Gaetano Giannetto, according to a company statement. The move aims to expand the payments and services platform and ramp up its international presence. The value of the transaction was undisclosed and is subject to customary regulatory and closing conditions. Giannetto will retain a minority stake and continue to lead the company.
ADVISORS- Clearwater and ADVANT Nctm advised Investcorp, while UBS acted as exclusive financial advisor to Epipoli and Bregal Milestone. PedersoliGattai and Alma LED served as counsels for Epipoli and Bregal Milestone.
