Blackstone (BX -2.1%) says its Blackstone Life Sciences V was oversubscribed and final close is at its hard cap of $4.6B of total capital commitments, making it the largest life sciences private fund raised till date.
With its investment strategies of – strategic collaborations with established life science companies, late-stage product financings, and growth investments in emerging companies, Blackstone seeks to bring innovative medicines to patients.
In the past three months, Blackstone Life Sciences almost $1B from the fund in the following transactions:
In April, the company entered into a $2B strategic collaboration with a biotechnology company Alnylam Pharmaceuticals (ALNY -0.8%) for royalty interest acquisition in inclisiran, a Novartis-owned LDL lowering medicine that has the potential to transform the lives of patients with heart disease.
Leading a $350M investment in Reata Pharmaceuticls (RETA -1.2%) in June, Blackstone Life Sciences seeks to advance the first potential medicine for Alport syndrome, a kidney disease that afflicts children.
A $337M strategic collaboration was announced with Medtronic (MDT -1.6%) to advance the latter’s next-gen diabetes management products.
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