‘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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