Ferring, Blackstone Investing $570 Million in Bladder Cancer Gene Therapy
26 November 2019 - 4:44AM
Dow Jones News
By Colin Kellaher
Ferring Pharmaceuticals and Blackstone Group Inc.'s (BX)
life-sciences business on Monday said they will invest $570 million
in a bid to develop a novel gene therapy for bladder cancer.
The companies said Ferring has launched a new unit, FerGene, to
focus on the global development and U.S. commercialization of
nadofaragene firadenovec, which is in late-stage development for
high-grade, Bacillus Calmette-Guerin unresponsive, non-muscle
invasive bladder cancer.
Blackstone Life Sciences, the life-sciences arm of New York
private-equity firm Blackstone, will invest $400 million in
FerGene, while privately held Ferring, a Swiss biopharmaceutical
group, will invest up to $170 million and will also potentially
launch and commercialize the drug outside of U.S., the companies
said.
Ferring and Blackstone said nadofaragene firadenovec, which is
currently in late Phase 3 development, has been granted
breakthrough therapy designation by the U.S. Food and Drug
Administration, which has also accepted and granted priority review
for the drug's biologics license application.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 25, 2019 12:29 ET (17:29 GMT)
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