Proparco joins Development Partners International (“DPI”), a renowned investment fund on Africa, as a stakeholder of the KELIX bio platform along with its European partners DEG, the German private sector development financing institution, and FMO, the Dutch development bank.

In addition to a number of US private and institutional investors, this investment, which is a part of the $200 million fundraising campaign launched on March 9, 2022, demonstrates our group’s commitment to expanding the industry. pharmacy from Africa. These new investors’ presence also adds more sectoral and developing market experience, which will boost KELIX bio’s rapid expansion.

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KELIX bio is a pan-African platform that was established for a total of $750 million by founding investors DPI, British International Investment (BII), and European Bank for Reconstruction and Development (EBRD). The platform was created to fulfil the rising need for speciality medications, particularly in underprivileged regions across Africa, at costs that were reasonable and accessible. Hocine Sidi-Said, co-founder and CEO, and Alhadi Alwazir, director of strategy, are leading KELIX bio in its efforts to put into practise an ambitious, effective plan targeted at raising people’s standards of living throughout the continent.

“We are delighted to be part of the KELIX bio adventure. The DPI and Hocine Sidi-Said team has built an impressive pharmaceutical platform with all the qualities and characteristics of a high-performing and impactful company, with a strong specialization in generic and bio-similar medicines, unique in Africa, and whose presence in Africa and India is very complementary. Health is a central sector of activity for Proparco and the distribution of quality and inexpensive medicines throughout the African continent remains a very critical issue. KELIX bio operates in a geographical area that is still largely underserved and we are confident in the growth potential that this represents,” Damien Braud, Head of Private Equity for Africa and the Middle East at Proparco, said. 

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Yves Ehlert, Vice President of Equity Africa at DEG, said: “DEG is pleased to be part of KELIX Bio’s fundraising. Access to specialty medicines at affordable prices is a major challenge in Africa and meeting this demand can have a large-scale impact on this sector. In line with its development finance mandate, DEG is committed to improving the delivery of medical care in partner countries. We are delighted to partner with DPI on this transaction, with whom we have established a long and successful partnership. »

KELIX bio has experienced significant growth since its inception, with 4 acquisitions already completed across the platform and a strong pipeline of new opportunities as the company seeks to accelerate the delivery of critical medicines across the continent. To support this continued growth, an additional $300 million investment in the platform is planned over the next two years, which will also allow it to establish new distribution channels in multiple markets and support research and development. new drugs.

Alison Klein, Manager, Private Equity at FMO, said: “FMO is delighted to be a co-investor in KELIX bio alongside DPI. KELIX bio’s impact-driven strategy directly underscores one of FMO’s core mandates of reducing inequalities, as there is tremendous demand across the African continent for specialist medicines, especially in communities. underserved. By increasing access to life-saving medicines while reducing the cost of these products, FMO can help improve the achievement of health goals for non-communicable diseases, in line with Sustainable Development Goal 3. »

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Sofiane Lahmar, DPI partner, said: “It is essential to improve the production and distribution of specialty medicines in Africa, as communities still lack access to affordable life-saving treatments. KELIX bio’s mission to transform Africa’s pharmaceutical sector will improve the quality of life for millions of people on the continent. The commitment of respected investors such as Proparco, DEG, FMO as well as American institutional investors, reaffirms the confidence in the investment plan of KELIX bio and in Hocine Sidi-Said as well as in the entire management team of KELIX bio to achieve these ambitions. We are excited to work together to accelerate the growth of the platform. »

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh