Blackstone Announces $4.6 Billion Final Close of Life Sciences Fund
09 Juli 2020 - 9:30PM
Business Wire
Largest Life Sciences Private Fund Raised to Date
Blackstone Life Sciences has already invested and committed
nearly $1 billion from this fund over the past three months,
demonstrating strong demand for the strategy
Blackstone (NYSE: BX) today announced the final close of
Blackstone Life Sciences V (“BXLS V”), the inaugural Blackstone
fund in Life Sciences. BXLS V was oversubscribed and closed at its
hard cap of $4.6 billion of total capital commitments —the largest
life sciences private fund raised to date.
Nicholas Galakatos, Ph.D., Global Head of Blackstone Life
Sciences, said, “Our mission to bring innovative medicines to
patients by drawing on our domain expertise and scale capital has
resonated with investors. With many more promising products in the
life sciences industry’s pipeline than capital available to advance
them, we look forward to continuing to bring new treatment options
and innovations to the patients who need them.”
Blackstone Life Sciences has three main investment strategies:
strategic collaborations with established life science companies,
late-stage product financings, and growth investments in emerging
companies.
Over the past three months, Blackstone Life Sciences invested
capital from BXLS V in the following transactions:
- In April, Blackstone Life Sciences entered into a $2 billion
strategic collaboration with Alnylam, a leading biotechnology
company, the largest private financing of a pre-profitability stage
biotechnology company. A key element of this investment was the
acquisition of a royalty interest in inclisiran, a Novartis-owned
LDL lowering medicine that has the potential to transform the lives
of patients with heart disease.
- In June, Blackstone Life Sciences led a $350 million investment
in Reata Pharmaceuticals to help advance the first potential
medicine for Alport Syndrome, a kidney disease that afflicts
children.
- Also in June, Blackstone Life Sciences and Medtronic announced
a $337 million strategic collaboration to advance Medtronic‘s next
generation of diabetes management products. This was the first
investment by Blackstone Life Sciences in the medical devices
space.
About Blackstone Life Sciences
Blackstone Life Sciences is a private, global investment
platform with capabilities to invest across the life-cycle of
companies and products within the key life science sectors. By
combining scale investments and hands-on operational leadership,
Blackstone Life Sciences helps bring to market promising new
medicines that improve patients’ lives.
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Jennifer Friedman Jennifer.Friedman@blackstone.com (212)
583-5122
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