Blackstone Announces Close of Blackstone Life Sciences Yield Fund at $1.6 Billion
21 April 2022 - 2:00AM
Business Wire
Fund enhances firm’s capacity to invest in life sciences
innovation and is the largest first-time fund of its kind
Blackstone (NYSE: BX) today announced the close of Blackstone
Life Sciences Yield (“BXLS Yield”), its inaugural royalty and
structured credit-focused life sciences fund. The fund was
oversubscribed and is the largest first-time fund of this nature.
It closed with $1.6 billion of investor capital focused on
post-approval, commercial-stage opportunities. It complements the
flagship strategy of BXLS, which invests in late-stage product
development. Together, the two pools of capital enable BXLS to
support end-to-end life science innovation at scale and showcase
Blackstone’s deep conviction in this sector.
Nicholas Galakatos, Ph.D., Global Head of Blackstone Life
Sciences, said: “Blackstone Life Sciences aims to invest across the
full lifecycle of innovative medicines and medical technologies.
BXLS Yield comes at a critical time for many companies in need of
structured credit and royalty opportunities as they seek to grow
their business in challenging market conditions. We anticipate
these two pools of capital will allow us to offer strategic
financing solutions to our partners as we did through our $2
billion collaboration with Alnylam in April 2020.”
Craig Shepherd, Senior Managing Director with Blackstone Life
Sciences, added: “The diversity of capital, resources and
scientific expertise that Blackstone can offer is a clear
differentiator. We are excited to continue partnering with leading
life sciences companies around the world and to help grow their
businesses.”
BXLS Yield further scales and diversifies Blackstone’s life
sciences investing capabilities. The firm launched Blackstone Life
Sciences nearly four years ago in response to the unprecedented
innovation unleashed in the space by emergent technologies and
scientific advancement. Since then, it has transformed into an
industry-leading investment platform, meeting global demand for
different forms of capital and scientific expertise. Through its
flagship strategy, the team sources, evaluates and actively
supports potentially transformative products and therapies.
About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private
investment platform with capabilities to invest across the life
cycle of companies and products within the key life science
sectors. By combining scale investments and hands-on operational
leadership, Blackstone Life Sciences helps bring to market
promising new medicines and medical technologies that improve
patients’ lives. More information is provided at
https://www.blackstone.com/our-businesses/life-sciences/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220420005832/en/
Blackstone Paula Chirhart +1 347 463 5453
paula.chirhart@blackstone.com
Blackstone (NYSE:BX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blackstone (NYSE:BX)
Historical Stock Chart
From Apr 2023 to Apr 2024