Jamjoom Pharma signs binding share subscription deal for biopharma SPV

The SPV was established to build, own and operate a facility for the manufacturing and commercialization of vaccines, biologics and biosimilars in Saudi Arabia.

Lifera is wholly owned by the Public Investment Fund (PIF).

In a statement to Tadawul, the company said it signed a binding share subscription agreement on July 22 with Biologics Co. to become a shareholder in the joint venture by subscribing to shares in the SPV.

It also signed a shareholders' agreement with Lifera and Biologics governing the SPV.

Jamjoom Pharma said the negotiations over the non-binding term sheet resulted in Lifera establishing Biologics, with Jamjoom Pharma subscribing to shares in the SPV instead establishing a joint venture company directly.

Under the subscription agreement, Jamjoom Pharma will subscribe to 4,900 new shares in Biologics at a par value of SAR 100 per share, for a total nominal subscription value of SAR 490,000.

Upon completion of the transaction, Lifera will own 51% of Biologics, while Jamjoom Pharma will hold the remaining 49%.

The company said the subscription agreement is subject to customary regulatory approvals and conditions precedent.

Completion of the proposed transaction remains subject to fulfilling the conditions set out in the agreement, and signing it does not guarantee the transaction will be completed.

Any material developments will be announced in due course, the statement added.

Jamjoom Pharma added that the shareholders' agreement includes key provisions, including customary corporate governance terms, as well as financing arrangements requiring the shareholders to fund Biologics for five years in line with its business plan once approved.

The company noted that, apart from the total nominal value of SAR 490,000, the financial impact is expected to become clearer at a later stage after the parties finalize Biologics' business plan.

Jamjoom Pharma also said it and Lifera have obtained a no-objection certificate for the proposed economic concentration from the General Authority for Competition (GAC).

According to data available with Argaam, Jamjoom Pharma signed in October 2025 a non-binding term sheet with Lifera for establishing a joint venture (JV) focused on the local manufacturing and expansion into vaccines, biologics, and biosimilars within Saudi Arabia.

Lifera is a PIF company, specializing in the localization and expansion of Saudi Arabia’s biopharmaceutical sector.