Blackstone announces agreement to acquire Clarus, a Leading Life Sciences Investment Firm

Blackstone

Firm Announces Launch of Blackstone Life Sciences Investment Platform

New York, October 4, 2018 – Blackstone (NYSE:BX) today announced that it has agreed to acquire Clarus, a leading global life sciences investment firm that has raised $2.6 billion since its founding.  Clarus, with offices in the life sciences hubs of Boston and San Francisco, is focused on funding growth-stage investments, often in partnership with major biopharmaceutical companies through R&D collaborations.  These investments bring to market promising new medicines that improve patients’ lives.  Clarus is led by a team of seasoned experts who have invested in more than 50 companies in the biopharmaceutical, medical device and diagnostic sectors—as well as across multiple disease areas, primarily in the oncology space.

This acquisition launches Blackstone Life Sciences, an industry-leading private investment platform with capabilities to invest across the life-cycle of companies and products within the key life sciences sectors. The business will fill a critical void in the industry, which is seeing unprecedented growth, but lacks the necessary funding to bring medicines and healthcare technologies to market.  Blackstone Life Sciences will build on Clarus’ significant domain expertise and record of success, and Blackstone’s experience, operating platform and global scale, to jointly advance breakthrough products to address unmet medical needs.

Jon Gray, Blackstone President and Chief Operating Officer, said: “This is a unique moment where rapid advancements in science and technology are creating unprecedented innovation and unparalleled impact on human health.  Private capital can play an important role in accelerating the lengthy clinical development process to help bring vital, but underfunded, drugs to market.  Building on the foundation of the world-class Clarus team, Blackstone Life Sciences is uniquely suited to provide much needed capital and expertise to this sector.”

Joe Baratta, Global Head of Private Equity at Blackstone, added: “Clarus’ investment model— working in partnership with major biopharmaceutical companies to provide them with necessary capital and operating expertise to expand their development budgets and bring medicines to market— is consistent with our investment philosophy across our various businesses.  Drawing on the expertise of the Clarus team, we are excited to partner with companies across the industry to develop and commercialize important medicines and technologies that will make a measurable difference in people’s lives.”

Upon closing of the transaction, Nick Galakatos, PhD, Managing Director of Clarus, will become Head of Blackstone Life Sciences. Galakatos co-founded Clarus in 2005 and has over 30 years of experience in the healthcare sector. Clarus’ team includes both clinical and investing experts with deep experience in the industry, including prior sector experience with 10 of the world’s leading life sciences companies.

Galakatos said: “We are excited to join Blackstone and anchor a dedicated life sciences investing business. The firm’s unmatched global scale, strong operating platform and track record in growing businesses, together with Clarus’ deep industry expertise, make this new platform an ideal partner to the industry that will bring significant benefits to investors seeking exposure to life sciences.  We look forward to building on Clarus’ success with the added power of Blackstone.”

Blackstone has extensive experience and capabilities in the healthcare sector, including investing over $19 billion in healthcare and healthcare-related transactions across more than 40 deals, and other investments across the firm, and is the second largest owner of life sciences office space in the world.

Blackstone’s acquisition of Clarus is subject to customary closing conditions and is expected to close in the fourth quarter of 2018.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with approximately $440 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact
Jennifer Friedman
+1 (212) 583-5122
Jennifer.Friedman@blackstone.com

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Ratos divests Sophion Bioscience

Ratos

Ratos’s subsidiary Sophion Holding AB has entered into an agreement to divest all of its shares in Sophion Bioscience A/S to Sapphire Bioscience Holding ApS, a newly established company controlled by Thais Johansen, CEO of Sophion Bioscience A/S. The sale is not expected to generate any significant exit results for Ratos.

Sophion Bioscience previously formed one of two business areas in Ratos’s subsidiary Biolin Scientific, the second of which, Analytical Instruments, was divested in December 2016. Following the divestment of Analytical Instruments, Sophion Bioscience has been operated as an independent company in Ratos and recognised in other net assets in the Ratos Group. Sophion Bioscience is a Danish manufacturer in the area of Automated Patch Clamping (APC), and markets instruments, test plates and support services. Customers include most major pharmaceutical companies.

Given Thais Johansen’s position as CEO of Sophion Bioscience, the transfer of shares is covered by Chapter 16 of the Swedish Companies Act (so-called Leo provisions) and is thus conditional upon the approval of Ratos’s general meeting of shareholders. The purchase price for all shares in Sophion Bioscience is SEK 60m. The company currently has about 50 employees and annual sales of approximately SEK 100m. In recent years, the company has reported a declining earnings trend and operating EBITA amounted to approximately SEK -0.6m in 2016.

The divestment is not expected to generate any significant exit results for Ratos.

Notification of the Extraordinary General Meeting, scheduled to be held in June, will be published in accordance with the provisions of the Swedish Companies Act.

For further information, please contact:
Magnus Agervald, CEO Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press Ratos, +46 8 700 17 98

– See more at: http://ratos.se/en/Press/Press-releases/2017/Ratos-AB-Ratos-divests-Sophion-Bioscience/#sthash.LRZ5sWTg.dpuf

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