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Blackstone Closes Blackstone Life Sciences V

Blackstone has held the final close of Blackstone Life Sciences V, the inaugural Blackstone fund in Life Sciences. BXLS V was oversubscribed, according to the firm, and closed at its hard cap of $4.6 billion of total capital commitments. Blackstone says that the fund is the largest life sciences private fund raised to date.

Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences, said, “Our mission to bring innovative medicines to patients by drawing on our domain expertise and scale capital has resonated with investors. With many more promising products in the life sciences industry’s pipeline than capital available to advance them, we look forward to continuing to bring new treatment options and innovations to the patients who need them.”

Blackstone Life Sciences has three main investment strategies: strategic collaborations with established life science companies, late-stage product financings, and growth investments in emerging companies. 

Over the past three months, Blackstone Life Sciences has invested capital from BXLS V in three companies. In April, Blackstone Life Sciences entered into a $2 billion strategic collaboration with Alnylam, a biotechnology company, which was the largest private financing of a pre-profitability stage biotechnology company. A key element of this investment was the acquisition of a royalty interest in inclisiran, a Novartis-owned LDL lowering medicine that has the potential to transform the lives of patients with heart disease. In June, Blackstone Life Sciences led a $350 million investment in Reata Pharmaceuticals to help advance the first potential medicine for Alport Syndrome, a kidney disease that afflicts children. Also in June, Blackstone Life Sciences and Medtronic announced a $337 million strategic collaboration to advance Medtronic‘s next generation of diabetes management products. This was the first investment by Blackstone Life Sciences in the medical devices space.

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