‘Break­through’ blad­der can­cer drug spin­out gets $570M to back launch of a new gene ther­a­py in the US

With its BLA filed and un­der pri­or­i­ty re­view at the FDA, Fer­ring is spin­ning out a gene ther­a­py for blad­der can­cer in­to a new biotech start­ing out with $570 mil­lion in back­ing — much of it from Black­stone Life Sci­ences.

Fer­ring in-li­censed nad­o­fara­gene fi­rade­n­ovec (rAd-IFN/Syn3) from the Finnish com­pa­ny FKD about 18 months ago. Now Black­stone is step­ping up with $400 mil­lion in cash to back the up-to $170 mil­lion that Fer­ring is chip­ping in to cre­ate Fer­Gene, which is be­ing set up to com­mer­cial­ize the drug in the US.

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA