Blackstone Completes the Acquisition of Clarus, Establishing a New Life Sciences Investment Platform
NEW YORK--(BUSINESS WIRE)--Nov 30, 2018--Blackstone (NYSE:BX) today announced that it has closed on its previously announced acquisition of Clarus, a leading global life sciences investment firm. Going forward, the business will operate as Blackstone Life Sciences, while historical funds will retain the Clarus name.
Blackstone Life Sciences is a new private investment platform with capabilities to invest across the life-cycle of companies and products within the key life sciences sectors. The business will leverage Clarus’ significant domain expertise and record of success, and Blackstone’s investment experience, operating platform and global scale, to help advance breakthrough products to address unmet medical needs.
Blackstone Life Sciences fills a critical void in the industry, which is seeing unprecedented growth, but lacks the necessary funding to bring medicines and healthcare technologies to market. The business will retain and build on Clarus’ hands-on approach of leveraging its scientific and clinical development expertise in adapting to an ever-changing investment landscape. This includes a focus on funding growth-stage investments, often in partnership with major biopharmaceutical companies through R&D collaborations.
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 across multiple disease areas.
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 $457 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.
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PUB: 11/30/2018 11:25 AM/DISC: 11/30/2018 11:25 AM