39.2 C
Friday, May 17, 2024

UAE’s Mubadala Invests $ 250 Million in Biosimulation Company Certara

Mubadala, the Abu Dhabi government’s sovereign investment company, has decided to invest about $250 million in Nasdaq-listed Certara, drug development and discovery company via biosimulation, according to a statement from Mubadala on Wednesday.

The Emirati Company said, “This investment is in line with its strategy to employ innovation in meeting clinical and drug needs to serve patients by developing highly effective products at lower costs.”

Details of the Transaction

The statement said that under the agreement with Certara’s partners, including the major shareholder, EQT, Mubadala will acquire 9,615,384 shares at a price of $26 per share from shareholders, as part of a private transaction that is expected to close on August 2, 2021.

EQT will retain its position as a major shareholder in the company after the completion of the transaction.

About Certara

Certara: It advances drug discovery processes and advances traditional treatment methods using biosimulation software and technology.

About Mubadala

Mubadala: Owned by the Abu Dhabi government, it is a huge investment company operating in more than 50 countries around the world, with assets of $243.4 billion, and working in a number of activities including refining, petrochemicals, renewable energy, mining, aviation, technology, agriculture, healthcare, medicine, real estate, and financial investments, according to Mubadala website.

HBC Editors
HBC Editorshttp://www.healthcarebusinessclub.com
HBC editors are a group of healthcare business professionals from diversified backgrounds. At HBC, we present the latest business news, tips, trending topics, interviews in healthcare business field, HBC editors are expanding day by day to cover most of the topics in the middle east and Africa, and other international regions.

Related Articles

Subscribe to our newsletter

Get notified about our latest news and articles. We are not spammy, we promise.

Latest Articles