Scoop: Fer­ring, Black­stone’s $570M gene ther­a­py ven­ture has im­plod­ed af­ter CMC is­sues stymied a once high-pro­file quest

Back in late 2019, Fer­Gene looked gold­en. It had a gene ther­a­py for blad­der can­cer — spun out of Fer­ring — at the FDA, with a pri­or­i­ty re­view and break­through sta­tus in­di­cat­ing that great things await­ed on the near hori­zon.

Fer­ring backed up the ven­ture with $170 mil­lion, with Nick Galakatos’ Black­stone Life Sci­ences chip­ping in an­oth­er $400 mil­lion with great fan­fare to get the com­pa­ny run­ning. David Meek jumped from the CEO job at Ipsen to run it all, and a lit­tle over a year ago much of the ex­ec­u­tive team was as­sem­bled to bring it all home.

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