Blackstone closes $4.6bn life sciences fund

By Ben Hargreaves

- Last updated on GMT

(Image: GettyMonsitj)
(Image: GettyMonsitj)

Related tags Blackstone Life Sciences Alnylam

Blackstone Life Sciences completes first private fund to invest in treatments in late-stage development.

Blackstone Life Sciences, part of Blackstone, a private global investment business, announced the final close of its life sciences fund, after reaching the hard cap of $4.8bn (€4.2bn).

The record sum for a private fund will be used in line with Blackstone’s three main investment strategies: strategic collaborations with established life sciences companies, late-stage product financings, and growth investments in emerging companies.

According to the company, the last three months have already seen Blackstone invest $1bn of capital from the raise.

Blackstone has already sealed a $2bn collaboration with Alnylam, which saw the investment company pick up a royalty interest in inclisiran, a potential treatment for heart disease.

Last month, the company helped finance Reata Pharmaceuticals in its $350m raise, and secured a $337m strategic collaboration with Medtronic.

The Blackstone Life Sciences unit was previously Clarus, which Blackstone acquired in 2018. As a result, the division is able to claim the expertise that has previously been involved in 94 drugs being brought to market and a Phase III ‘success rate’ of 89%.

The raise by Blackstone Life Sciences comes at a time of a number of successful life science funds emerging, or finding investment, across the industry.

Earlier this year, Arch Venture raised $1.46bn​ to fund early-stage biotechs, with the investment firm also having backed Alnylam, as well Juno Therapeutics and bluebird bio, as part of its portfolio.

Wider than the US, the European investment scene is also beginning to garner great levels of capital. This saw LSP raise $600m​ to issue to private companies developing medicine, and GHO Capital Partners receive €975m​ for investment, particularly into contract services providers.

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