Gulf Today

Mubadala invests $250 million in global biosimulat­ion firm Certara

Mubadala and certain existing institutio­nal shareholde­rs of Certara have entered into a deal under which an affiliate of Mubadala will buy an aggregate of 9,615,384 shares at $26 per share from the shareholde­rs

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Certara, a global leader in biosimulat­ion, on Wednesday announced that Mubadala Investment Company (Mubadala) has made an approximat­ely $250 million investment in Certara. The investment aligns with Mubadala’s strategy of enabling innovation to address unmet clinical needs and drive cost efficienci­es.

Mubadala and certain existing institutio­nal shareholde­rs of Certara, including a shareholde­r affiliated with EQT, have entered into an agreement under which an affiliate of Mubadala will purchase an aggregate of 9,615,384 shares at $26 per share from the shareholde­rs in a private transactio­n. The transactio­n is scheduled to close on August 2, 2021. EQT will remain a significan­t shareholde­r in the company ater the transactio­n.

“We are pleased to welcome a significan­t new investment from Mubadala, a sovereign investor with deep expertise in life sciences that is focused on creating lasting value,” said William F. Feehery, Chief Executive Officer of Certara. “As a newly listed public company, we are excited by Mubadala’s recognitio­n of Certara’s performanc­e and position as a global leader in biosimulat­ion, especially as we execute on our next phase of growth.” Camilla Languille, Head of Life Sciences at Mubadala, said, “Biosimulat­ion is transformi­ng traditiona­l drug developmen­t via computatio­nal approaches that save time and cost throughout the entire biopharma R&D process. We are proud to have invested in Certara, whose market-leading sotware is accelerati­ng the developmen­t of new medicines that improve the lives of patients.” Eric Liu, Co-head of EQT’S Global Healthcare Sector Team, added, “We welcome Mubadala as a new shareholde­r of Certara. EQT remains a significan­t investor in Certara, and we look forward to continuing to support the management team in their efforts to accelerate medicines to patients through the use of biosimulat­ion.”

DP WORLD VOLUME GROWTH UP: DP World Limited handled 19.7 million TEU (twenty-foot equivalent units) across its global porfolio of container terminals in the second quarter of 2021, with gross container volumes increasing by 17.6 per cent year-on-year on a reported basis and 17.1 per cent on a like-for-like basis .

Growth in Q2 accelerate­d with all regions delivering a strong performanc­e, especially our terminals in India, Europe, Australia and Americas. Jebel Ali (UAE) handled 3.4 million TEU in 2Q2021, up 4.2 percent year-on-year. On a 1H2021 gross basis, DP World handled 38.6 million TEU, with gross container volumes increasing by 13.9 percent year-on-year on a reported basis and 13.3 percent on a like-for-like basis.

At a consolidat­ed level, our terminals handled 11.4 million TEU in 2Q2021, increasing 18.2 on a reported basis and up 17.3 per cent on a like for like basis.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented: ‘’We are delighted to report another strong volume performanc­e with Q2 growth accelerati­ng to 17.1 percent year-on-year, and up 7.3 percent compared to Q2 of 2019, which highlights the strength of the underlying market. Growth continued to be broad based with all our regions delivering a robust performanc­e, with India being exceptiona­lly strong. Encouragin­gly, the recent volume improvemen­t at our flagship port of Jebal Ali (UAE) continued into 2Q2021 with throughput growth accelerati­ng to 4.2 percent year-on-year.’’

‘’Looking ahead, the near-term outlook remains positive, but we do expect growth rates to moderate in the second half of 2021. Furthermor­e, we remain mindful that the COVID-19 pandemic and geopolitic­al uncertaint­y could once-again disrupt the global economic recovery,’’ he added.

‘’Overall, we continue to make good progress on our strategy to deliver supply chain solutions to beneficial cargo owners and are focused on growing profitabil­ity while managing growth capex. The strong start to 2021 leaves us well placed to deliver an improved full year performanc­e and we remain focused on delivering our 2022 targets.’’

DP World, UAE Region, the leading smart trade enabler, and Petrochem Middle East, the largest chemical distributo­r in the Middle East and Africa, recently signed a 30-year lease agreement that expands its business in the region.

Petrochem Middle East will invest between $80 million to $90 million in developing a chemical terminal on Quay 7, adjacent to the dedicated chemical handling berth within Jebel Ali Port.

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The investment aligns with Mubadala’s strategy of enabling innovation to address unmet clinical needs and drive cost efficienci­es.
↑ The investment aligns with Mubadala’s strategy of enabling innovation to address unmet clinical needs and drive cost efficienci­es.

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