Fund enhances firm’s capacity to invest in life sciences innovation and is the largest first-time fund of its kind
Cambridge, MA – April 20, 2022 – Blackstone (NYSE: BX) today announced the close of Blackstone Life Sciences Yield (“BXLS Yield”), its inaugural royalty and structured credit-focused life sciences fund. The fund was oversubscribed and is the largest first-time fund of this nature. It closed with $1.6 billion of investor capital focused on post-approval, commercial-stage opportunities. It complements the flagship strategy of BXLS, which invests in late-stage product development. Together, the two pools of capital enable BXLS to support end-to-end life science innovation at scale and showcase Blackstone’s deep conviction in this sector.
Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences, said: “Blackstone Life Sciences aims to invest across the full lifecycle of innovative medicines and medical technologies. BXLS Yield comes at a critical time for many companies in need of structured credit and royalty opportunities as they seek to grow their business in challenging market conditions. We anticipate these two pools of capital will allow us to offer strategic financing solutions to our partners as we did through our $2 billion collaboration with Alnylam in April 2020.”
Craig Shepherd, Senior Managing Director with Blackstone Life Sciences, added: “The diversity of capital, resources and scientific expertise that Blackstone can offer is a clear differentiator. We are excited to continue partnering with leading life sciences companies around the world and to help grow their businesses.”
BXLS Yield further scales and diversifies Blackstone’s life sciences investing capabilities. The firm launched Blackstone Life Sciences nearly four years ago in response to the unprecedented innovation unleashed in the space by emergent technologies and scientific advancement. Since then, it has transformed into an industry-leading investment platform, meeting global demand for different forms of capital and scientific expertise. Through its flagship strategy, the team sources, evaluates and actively supports potentially transformative products and therapies.
