Blackstone (NYSE:BX) is to acquire Clarus, a global life sciences investment firm that has raised $2.6 billion since its founding.
The acquisition is subject to customary closing conditions and is expected to close in the fourth quarter of 2018.
With offices in the life sciences hubs of Boston and San Francisco, Clarus is focused on funding growth-stage investments, often in partnership with major biopharmaceutical companies through R&D collaborations. These investments bring to market promising new medicines that improve patients’ lives.
The firm is led by a team of seasoned experts who have invested in more than 50 companies in the biopharmaceutical, medical device and diagnostic sectors—as well as across multiple disease areas, primarily in the oncology space.
The acquisition launches Blackstone Life Sciences, a private investment platform with capabilities to invest across the life-cycle of companies and products within the key life sciences sectors. It will build on Clarus’ significant domain expertise and record of success, and Blackstone’s experience, operating platform and global scale, to jointly advance breakthrough products to address unmet medical needs.
Upon closing of the transaction, Nick Galakatos, PhD, Managing Director of Clarus, will become Head of Blackstone Life Sciences. Galakatos co-founded Clarus in 2005 and has over 30 years of experience in the healthcare sector. The team includes both clinical and investing experts with deep experience in the industry, including prior sector experience with 10 of the world’s leading life sciences companies.
Blackstone has extensive experience and capabilities in the healthcare sector, including investing over $19 billion in healthcare and healthcare-related transactions across more than 40 deals, and other investments across the firm, and is the second largest owner of life sciences office space in the world.
FinSMEs
04/10/2018