The government of the UK inked a £1 billion deal with Abu Dhabi’s sovereign wealth fund called Mubadala for injection of Middle Eastern capital into the UK’s life sciences sector in a bid for returns and a bet on the post-pandemic recovery. Mubadala manages around $232 billion and commits about £800 million over a five year period. In parallel, the UK’s Life Sciences Investment Programme plans on contributing £200 million along with the Abu Dhabi group reported to the UK Office for Investment recently.
Reported in fDI Intelligence, this deal represents what is part of a “sovereign investment partnership (SIP) between the UK and the UAE,” reports OFi. The OFi continued, “The SIP is the first of its kind for the UK and is aimed at enhancing the next generation of UK life science companies. The deal strengthens UK-UAE trade and investment ties, and fosters a future-focused relationship between the two countries within innovation-led sectors such as energy transition and infrastructure.”
The OfI and Mubadala will work together to identify commercially viable opportunities for investment in the sector.
Call to Action: This large infusion of capital will serve to advance biomedical research, including clinical trials, in the UK in forthcoming years.