Mubadala is reshuffling its healthcare portfolio in the US, with an exit from a four-year investment in Nizoral and Betadine owner Arcadia Consumer Healthcare, and a new investment in nutri-tech firm L-Nutra. The fund sold its stake in Arcadia to funds managed by Bansk Group, according to a statement, which did not disclose the value of the exit.

The sovereign wealth fund led a USD 36.5 mn Series D investment in nutri-tech firm L-Nutra, raising the total amount secured by the company during this round to USD 83.5 mn, according to L-Nutra CEO Joseph Antoun’s announcement on LinkedIn.

Mubadala and L-Nutra will together establish an Abu Dhabi-based JV to provide medical nutrition therapies to the MENA region, according to a press release. The partnership has already begun rolling out nutrition initiatives and education programs across seven schools in the emirate.

What does L-Nutra do? The company develops nutrition programs aimed at extending lifespan and managing chronic diseases, including the ProLon diet for longevity and targeted medical therapies.

Why it matters

Mubadala has been beefing up its biotech and healthcare portfolio, with a dedicated pharma arm — Mubadala Bio — and a focus on investing in biotech, particularly in the region. This helps boost the UAE’s efforts to localize healthcare technologies and pharma, Mubadala’s UAE Investment Platform’s Ismail Abdulla said. The sovereign wealth fund also made a sizable reinvestment in US pharma manufacturer PCI Pharma Services and participated in a USD 183 mn Series C financing round for US biotech ElectraTherapeutics.

The move to not only invest in the company but partner with it to launch a JV in the emirate is part of a familiar playbook. Abu Dhabi’s ADQ similarly agreed with Sotheby’s to expand to Abu Dhabi after it acquired a minority stake in the firm for USD 1 bn.

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