Dubai-headquartered Kelix Bio, wholly owned by Abu Dhabi’s Mubadala Investment (Mubadala), has completed the acquisition of insulin manufacturer DiabTec, a subsidiary of Ras Al Khaimah-headquartered Julphar, for an undisclosed fee.
According to a media release, the deal strengthens Mubadala's portfolio of biologicals, establishes its role in biomanufacturing across the Middle East and North Africe (MENA) region, and supports its efforts to advance the United Arab Emirates (UAE) life sciences sector through local manufacturing.
DiabTec's facility includes 20,000-liter drug substance reactors and a separate cartridge fill-finish facility for drug products; the facility is built to EU/US FDA standards.
Mubadala said it "wants to address critical global challenges" including the growing prevalence of diabetes, and demand for microbial based products such as insulin analogues and GLP-1 to treat such conditions locally and abroad.
The move supports Mubadala’s efforts to advance the UAE's life sciences sector. Following the acquisition of four GlobalOne Healthcare Holding assets, the transaction is the fifth acquisition by Kelix Bio since being acquired by Mubadala in March 2024.
As part of the transaction, Julphar has entered into a long-term agreement with DiabTec to procure human Insulin API for its inhouse finished drug manufacturing as well for its licensing partners.
According to a statement, the transaction is in line with Julphar’s strategy to divest non-core activities and pivot towards future portfolio growth areas. The company will invest part of the divestment proceeds in its growing pipeline of value adding and specialty pharmaceutical products. Julphar has more than 90 products in its product pipeline in different stages.
Dr. Bakheet Al Katheeri, chief executive officer of Mubadala’s UAE Investments Platform, said in the release: “This strategic investment reflects our commitment to responsible investing, addressing critical global healthcare challenges like the growing need for insulin analogues"
Ismail Ali Abdulla, executive director of UAE Clusters at Mubadala's UAE Investments Platform, said: "Mubadala recognises the critical importance of ensuring reliable access to therapeutic solutions like insulin analogues, particularly in light of growing global demand and supply challenges. The acquisition of DiabTec is a direct response to this need.”
Abdulla added: “This move not only strengthens Mubadala’s and the UAE's life sciences sector but also underscores our commitment to improving global health outcomes by contributing to a more secure and sustainable insulin analogue supply chain.”
Meanwhile, Hocine Sidi Said, CEO of Kelix bio, added: "With the rising number of diabetes patients globally, access to insulin analogues remains a challenge in many regions. To address this challenge, Kelix Bio aims to improve access to critical treatments, ensuring that those in need can receive the care they require."
