Emirati state-owned holding company, Mubadala investment company and the UK office for investment (OFI) to invest around £1 Billion in UK life sciences.
Abu Dhabi’s Mubadala will invest around £800 million and the UK will invest £200 million, part of the UAE – UK Sovereign Investment Partnership (SIP). In over five years SIP will invest across several tech and innovation-led sectors.
According to Mubadala this agreement of its kind for the OFL will deepen the existing UK-UAE trade and investment ties that were worth £32 billion in 2019.
Mubadala Technology, founded as Advanced Technology Investment Company (ATIC) in 2008, is an investment company in the high-technology sector, owned by Mubadala Development Company, a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates.
In UK the Life sciences sector generates around £80 billion in turnover a year and employs more than 250,000 people.
UK being an investment destination of choice. From Liverpool and Edinburgh to Oxford and Nottingham, our world class life sciences clusters and innovative businesses will see the benefits of this partnership.
The Abu Dhabi based company has also pledged to connect UK- based industries for research and innovation initiatives across it global connections of more than 50 countries,
Which has a major focus on innovation and technology-led sectors, including composite manufacturing, semiconductors, renewable energy, biotech and urban mobility. The UAE-UK partnership will build on the investment model Mubadala has established in other geographies.
Khaldoon Khalifa Al Mubarak, the Chief Executive Officer and MD of Mubadala siad
“The UAE and UK are aligned on the importance of global action on critical priorities such as healthcare innovation and delivery, climate change and the sustainable growth of high-skilled industries,”
“Coordination on investment and global innovation ecosystems is vital to enabling progress against these challenges and presents a significant post-Covid economic opportunity for the UK and UAE.”
