Abu Dhabi-based sovereign wealth fund Mubadala has spent US$250 million to acquire a stake in biosimulation company Certara.
The US-based, Nasdaq-listed firm is focused on the drug discovery and development process and has more than 1,650 biopharmaceutical companies as clients.
Mubadala, along with a number of existing institutional shareholders, has acquired 9,615,384 shares at a cost of $26 per share. The transaction is expected to close in early August.
According to Mubadala, the investment is in line with its strategy of enabling innovation to address unmet clinical needs and drive cost efficiencies.
“Biosimulation is transforming traditional drug development via computational approaches that save time and cost throughout the entire biopharma R&D process,” said Camilla Languille head of life sciences at Mubadala.
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