RIYADH: Abu Dhabi sovereign investment fund Mubadala has made a $250 million investment in US biosimulation company Certara, WAM reported.
Certara uses biosimulation to and technology-enabled services to accelerate drug discovery and development. The investment aligns with Mubadala’s strategy of enabling innovation to address unmet clinical needs and drive cost efficiencies.
Mubadala and existing institutional shareholders of Certara, including a stakeholder affiliated with alternative investment company EQT, have signed an agreement through which a Mubadala affiliate will buy more than 9.61 million shares in Certara at $26 per share from the shareholders in a private transaction scheduled to close on August 2.
“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, CEO of Certara.
EQT will remain a significant shareholder in the company after the transaction.
Mubadala invested almost $500 million in European veterinary giant IVC Evidensia in nearly in May. It has an asset base of 894 billion Emirati dirhams ($243.4 billion).
