Blackstone to acquire the life sciences investment firm, Clarus
4 October 2018 -

Investment firm Blackstone (NYSE:BX) said on Wednesday that it has agreed to acquire the life sciences investment firm Clarus for an undisclosed amount.

With offices in the life sciences hubs of Boston and San Francisco, Clarus is focused on funding growth-stage investments in partnership with major biopharmaceutical companies through R&D collaborations. It markets new medicines that improve patients' lives. The life sciences firm has raised USD2.6bn since its founding.

Via this acquisition, Blackstone Life Sciences is now an industry-leading private investment platform within the key life sciences sectors. The business will fill a critical void in the industry, which is seeing unprecedented growth, but lacks the necessary funding to bring medicines and healthcare technologies to market.

Blackstone Life Sciences 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.

Under the terms of the agreement, Nick Galakatos, PhD, the managing director and co founder of Clarus, has been named as head of Blackstone Life Sciences. Clarus' 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.

This acquisition is subject to customary closing conditions and is expected to close in the fourth quarter of 2018.