Blackstone backs $570m FerGene investment

Blackstone Life Sciences will invest $400m and Ferring will invest up to $170m.

FerGene intends to use the investment to advance its global development and to assist with the commercialisation of nadofaragene firadenovec in the US. The product could also be commercialised beyond the US, according to a statement.

Unquote understands that the Blackstone Life Sciences team had pre-existing relationships with Ferring and had also identified FerGene through its asset search and due diligence.

Unquote reported in 2018 that Blackstone established Blackstone Life Sciences via the acquisition of Clarus, a US GP focused on growth-stage investments in the biopharmaceutical sector.

Blackstone Life Sciences supports companies in clinical development and in bringing their therapies to market. Since its inception, the firm has established several partnerships with European pharmaceutical companies, including AstraZeneca and Merck.

Company
FerGene is a specialist in gene therapy for the treatment of bladder cancer. The therapy is intended specifically for patents with high-grade, Bacillus Calmette-Guérin (BCG) unresponsive, non-muscle invasive bladder cancer.

The business was established by Ferring to commercialise nadofaragene firadenovec in the US and to facilitate the therapy's global clinical development.

Ferring is based in Saint-Prex, Switzerland, with 60 subsidiaries globally and 6,500 employees.

People
Blackstone Life Sciences – Nick Galakatos (head).
Ferring Pharmaceuticals – Frederik Paulsen (chairman).

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