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Healthcare-related investments are now high priority with UAE and Gulf investment firms. (Image used for illustrative purposes.) Image Credit: AFP

Dubai: Shuaa Capital, the Dubai based asset manager, is turning its attention to the pharma space. It has taken an exposure in the Swiss pharma-tech supply chain company SkyCell, which manufactures smart containers for the transport of pharmaceutical products.

SkyCell had initiated a $34.8 million Series C funding round, and which brought in Shuaa as one of the new investors. “Given its pioneering approach and the significant potential for value creation, it represents a great fit for Shuaa’s stringent investment criteria,” said Ajit Joshi, Managing Director and Head of Public & Private Markets at the Dubai firm.

UAE and Gulf investment firms such as Mubadala and Investcorp have been busy sifting through opportunities in the global healthcare space in recent months. Mubadala, in particular, has built a sizeable portfolio.

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In good hands

Launched in 2012, SkyCell designs and makes smart containers that allow pharmaceutical companies to predict, reduce, and control the risks associated with transporting temperature-sensitive drugs. SkyCell’s combination of hardware and software processes deliver an independently-audited failure rate of less than 0.1 per cent - versus an accepted industry standard of between 4 and 12 per cent - while reducing CO2 emissions by almost half.

“This investment will contribute to raising the efficiency of our services and targeting new markets in the region and in Shuaa, we have found an investor aligned with our vision and ambitions,” said Richard Ettl, co-founder and CEO of SkyCell.