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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