Blackstone doubles down on cell therapy, pouring life (and a lot of cash) into a once hot biotech
FerGene’s $570 million implosion evidently hasn’t scared off Blackstone from cell and gene therapy.
The massive Wall Street investment firm announced early Monday a deal to invest up to $250 million in Autolus, a UK biotech that raised hundreds of millions of dollars around a next-generation cell therapy platform but has faced headwinds in recent years.
Although A-Rod-sized dollar figures are now par for the course in biopharma, the deal is particularly notable because of Autolus’ $AUTL relatively small market cap: roughly $400 million at market close Friday. Blackstone agreed to pay $50 million upfront and purchase $100 million in shares.
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