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Biotechnology

Blackstone raises $4.6 billion for life sciences fund

by Michael McCoy
July 18, 2020 | APPEARED IN VOLUME 98, ISSUE 28

 

Blackstone says it has raised $4.6 billion for what it calls the largest-ever private life sciences investment fund. Nicholas Galakatos, an organic chemist who runs the fund, says investors are drawn to Blackstone’s scale and expertise. Money from the fund has already gone to the purchase of royalties for inclisiran, a molecule discovered by Alnylam Pharmaceuticals; and investments in Reata Pharmaceuticals and in Medtronic diabetes management products.

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