Blackstone buys life sciences investment firm Clarus

The new business division is aiming to build on Clarus's sector expertise as well as Blackstone's operating platform and global scale, to jointly develop products to address medical needs.

With offices in Boston and San Francisco, Clarus has raised $2.6bn since its founding in 2005.  It is focused on funding growth-stage investments, often in partnership with biopharmaceutical companies through R&D collaborations.

Upon closing of the transaction, Nick Galakatos, managing director and co-founder of Clarus, will become head of Blackstone Life Sciences. His team includes both clinical and investment professionals.

Blackstone's acquisition of Clarus is expected to close in the fourth quarter of 2018.

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