Mubadala and CBC Group Announce Joint Acquisition of UCB's Established Products Business in China

Beijing, August 26, 2024: Abu Dhabi-headquartered global investment firm Mubadala Investment Company announced today that it will join forces with CMB Capital, Asia’s largest healthcare-focused asset management institution, to jointly acquire 100% equity interest in UCB’s mature products business in China.

UCB is a global biopharmaceutical company headquartered in Belgium, holding a leading market position in China in the fields of immunology, neurology, and rare diseases. Its portfolio of originator central nervous system (CNS) products possesses strategic growth potential. This acquisition involves UCB’s mature neurology products in mainland China (Keppra^®, Vipate^®, Uprolo^®) and anti-allergy products (Zyrtec^®Youze^®), as well as the production base located in Zhuhai. In 2023, the total sales volume of the products covered by this transaction in China reached €131 million. The transaction is still subject to certain closing conditions, including necessary antitrust reviews and other customary conditions, and is expected to be completed in the fourth quarter of 2024.

This investment by Mubadala aligns with its vision for the Asian market, further expanding its footprint and influence in Asia through selective investments in multiple sectors with strong growth potential. Divestitures in the healthcare sector, particularly in pharmaceuticals, are a key focus of the company’s investment strategy. Furthermore, following its co-leadership of the investment in Haisheng Biopharma, this renewed strategic partnership with Qiao Capital underscores Mubadala’s long-term commitment to meeting the demands of China’s and the broader Asian healthcare markets by deepening its platform ecosystem.

Mohamed Abdalla, Head of Mubadala China, stated“We are delighted to partner with C-Bridge Capital to continue supporting the next phase of development for UCB’s established products business in China. UCB’s excellence in research, development, and innovation aligns with our commitment to delivering greater benefits to more patients and creating sustained value. We are dedicated to positioning the new company as a leading pharmaceutical enterprise in China, advancing the progress of the healthcare system, and making transformative medicines accessible to a broader patient population.”

“In China, the CNS therapeutics market is vast and holds significant growth potential, with urgent clinical needs to be addressed. Building on this acquisition, we look forward to establishing a broader central nervous system platform to benefit more patients in China.”Mina Hamoudi, Head of Healthcare at Mubadala, further added.

“Recently, UCB is actively preparing to launch a series of innovative drugs in the fields of immunology, neurology, and rare diseases in the Chinese market.”Jean-Christophe Tellier, Global CEO of UCBCommitment: “UCB has been rooted in China for 28 years. We remain unwavering in our determination to address unmet medical needs of patients in China, and will work closely with local partners to create greater value for patients through continuous innovation.” Regarding this transaction,Jiang Ruifustated, “We believe that Mubadala and Qiao Capital will play a greater role in bringing these excellent drugs to the mainland China market, benefiting patients with neurological disorders and allergic conditions.”

Mubadala Investment Company is an Abu Dhabi sovereign investment institution that manages a diversified global portfolio, dedicated to generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s assets under management total $302 billion, with investments spanning a wide range of industries and asset classes across six continents. Leveraging deep industry insights and stable partnerships, Mubadala not only promotes the long-term sustainable development of its investments but also contributes to the diversification of the UAE’s economy and its global integration.

For more information about Mubadala, please visit: www.mubadala.com.

Headquartered in Brussels, Belgium, UCB is a global biopharmaceutical company focused on developing innovative medicines and therapies for severe diseases of the immune and nervous systems. Currently, UCB employs approximately 9,000 people worldwide, operates in 40 countries and regions, and invests more than 25% of its annual sales revenue in research and development to drive continuous innovation. In 2023, UCB’s global sales reached €5.3 billion. The company is listed on Euronext Brussels (UCB).

Kangqiao Capital is an asset management firm based in Asia that specializes in investments within the healthcare and medical sectors, with total assets under management exceeding $8.8 billion. The firm has established a mature multi-product asset allocation framework, offering tailored, one-stop asset allocation solutions to meet the diverse investment needs of various investor types in the healthcare space. Its product offerings primarily include buyout funds, fixed-income credit funds, life sciences infrastructure funds, and venture growth funds.

Founded in 2014, CBC Group is dedicated to creating sustained value by integrating global innovative technologies and talent, thereby building an ecosystem in the healthcare sector. By partnering with top-tier entrepreneurs and scientists worldwide, and leveraging its proprietary “Investor-Operator” model, CBC Group strategically empowers leading healthcare companies to enhance accessibility to medical services, foster innovation, and improve efficiency, addressing unmet medical needs globally. Headquartered in Singapore, the firm has a global presence spanning Shanghai, Beijing, Hong Kong, New York, Boston, San Diego, San Francisco, London, Abu Dhabi, Seoul, and Tokyo. For more information about CBC Group, please visit www.cbridgecap.com