Tag Archives: life Science

Blackstone Announces Close of Blackstone Life Sciences Yield Fund at $1.6 Billion

Blackstone

–Fund enhances firm’s capacity to invest in life sciences innovation and is the largest first-time fund of its kind

CAMBRIDGE, Mass.– 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.

About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical technologies that improve patients’ lives. More information is provided at https://www.blackstone.com/our-businesses/life-sciences/.

Contact
Paula Chirhart
+1 347 463 5453
paula.chirhart@blackstone.com

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BioEcho Life Sciences Receives Growth Equity Investment from Ampersand Capital Partners

Ampersand

Cologne, Germany, 1 March, 2022 – BioEcho Life Sciences GmbH, an innovative manufacturer of nucleic acid purification solutions for molecular diagnostics and life sciences research, today announced a minority investment from Ampersand Capital Partners, a private equity firm specializing in growth equity investments in the life sciences and healthcare sectors. Ampersand’s investment will be used to support the company’s worldwide growth initiatives, including the launch of several new kits in 2022, further development of the company’s commercial and geographic presence, and expansion of its direct salesforce.

Cologne, Germany-based BioEcho manufactures proprietary sample lysis and purification tools for rapid, high-quality extraction of nucleic acids.  The company’s EchoLUTION single-step purification technology enables faster and more simplified DNA and RNA extraction workflows versus traditional bind-wash-elute solutions while minimizing inhibitors of downstream PCR and sequencing applications.  By streamlining the nucleic acid purification workflow into a simplified centrifugation step, BioEcho also minimizes plastic consumption relative to traditionally used methods.  More recently, the company’s CE-marked viral RNA extraction kit has played a critical role in enabling the rapid scale-up of SARS-CoV-2 testing across Europe, and BioEcho plans to launch several more CE-marked kits for molecular diagnostics and research applications in 2022-2023.

Dr. Markus Müller, Cofounder and Co-Managing Director commented, “We are extremely pleased to be partnering with Ampersand in catalyzing the next phase of growth for BioEcho. Ampersand’s expertise and resources will be a significant benefit to BioEcho as we further expand into new markets and capitalize on the speed, quality, simplicity, and sustainability benefits that our products offer users, whether that is in SARS-CoV-2 testing or in a wide variety of other diagnostic, research, and industrial applications.”

Cofounder and Co-Managing Director Dr. Frank Schäfer added, “This partnership comes at a critical moment in the company’s history: the rapid success of our SARS-CoV-2 purification kits is strong validation of the benefits our technologies can bring to customers, and with a deep pipeline of new solutions ready for commercialization, now is the perfect time to accelerate our expansion and leverage Ampersand’s deep expertise in this market.  Further, we are excited that our partnership with Ampersand will help accelerate our expansion to the U.S.—a key priority for 2022.”

Frank Witney, PhD., Operating Partner at Ampersand, added, “Given Ampersand’s experience in the molecular diagnostics and tools markets, we were highly impressed by the differentiated products and technologies offered by BioEcho.  Over the last two years, BioEcho has been a key partner to molecular diagnostics labs across Europe, providing critical purification kits that have accelerated COVID-19 PCR testing workflows and enabled the rapid scale-up of labs across the continent.  We are excited to partner with Dr. Müller, Dr. Schäfer, and the rest of the BioEcho team to continue supporting our global communities in the fight against COVID-19 while also accelerating the company’s global commercialization of new products in other clinical and non-clinical applications.”

In connection with the transaction, Frank Witney has joined the BioEcho Board of Directors along with Ampersand Vice President Arya Mehrabanzad. Financial details of the transaction were not disclosed.

About BioEcho Life Sciences GmbH

BioEcho Life Sciences is an ISO 9001 and ISO 13485 certified company specializing in nucleic acid sample preparation tools for clinical, biotech, life sciences research, agricultural, and industrial applications.  Founded in 2016 by a team of industry experts in genomic sample preparation, BioEcho was established with the mission of utilizing the company’s proprietary technologies and technical expertise to overcome the limitations of many standardized methods in molecular biology and diagnostic workflows.  BioEcho kits offer customers with industry leading quality, speed, simplicity, and sustainability capabilities for the purification of high-quality nucleic acids from a wide variety of samples.  The company’s guiding principle is an unwavering dedication to sustainability, achieved through a specific focus on socially responsible behavior and the development of environmentally friendly products.  Additional information about BioEcho Life Sciences is available at www.bioecho.de.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle-market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

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Ampersand Completes Sale of Adaptas Solutions to IMI plc

Ampersand

WELLESLEY Mass., PALMER Mass., Dec. 20, 2021 /PRNewswire/ — Ampersand Capital Partners announced today that it has completed the sale of its portfolio company Adaptas Solutions to IMI plc for $271 million in cash. Adaptas is a leading provider of mission-critical components for complex laboratory instruments in the life sciences, diagnostics and lab automation markets.

Ampersand invested in Detector Technologies in 2018 and partnered with CEO Jay Ray to build the company (renamed Adaptas Solutions) into a global leader through both acquisitions and internal investments. Together the team acquired Scientific Instrument Services, ETP Ion Detect, Yuanshang Technology, Applied Kilovolts, Ceramax and Cadence Fluidics. Today Adaptas is the market leading provider of mass spectrometry subsystems and components, such as electron multipliers, filaments, power supplies and ion optic grids. In addition, Adaptas manufactures custom fluidic modules and lab automation products including motion control components, syringe pumps and rotary shear valves. The company, with over 340 employees, is based in Palmer, Massachusetts, USA and also has facilities in Pennsylvania USA, West Sussex in the United Kingdom, New South Wales in Australia and Qidong in China. Adaptas projects over $80 million of revenues for 2021.

“Ampersand has been a valued strategic partner and provided the resources to build our organization to support rapid growth and acquisitions. Their knowledge of our industry and network have helped Adaptas refine and execute its growth strategy,” said Jay Ray. “IMI will allow Adaptas to expand the breadth of our product offerings as we continue to develop innovative products and services for our customers.”

Geoff Teillon, Partner of Ampersand Capital Partners, added, “Adaptas has grown to become the ‘Intel Inside®’ for mass spectrometry OEMs. IMI’s product portfolio will allow the team to further accelerate Adaptas’ market penetration and execute on its robust pipeline of new business opportunities, especially in lab automation and liquid handling.”

Baird served as exclusive financial advisor to Adaptas, McDermott Will & Emery served as Adaptas’ legal counsel and PwC served as Adaptas’ financial and tax diligence advisor.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

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CVC Credit Partners backs Calibre Scientific’s next phase of growth

Funding by CVC Credit Partners will support the business’s buy-and-build growth strategy

CVC Credit Partners (“CVC Credit”) is pleased to announce that it has provided a $92 million multicurrency first lien credit facility to Calibre Scientific, the life sciences and diagnostics business owned by StoneCalibre. Funding provided by CVC Credit will be used to refinance the existing debt facility and to support the company’s global acquisition strategy. Baird Global Investment Banking served as the exclusive debt advisor for the transaction.

Founded in 2013, Calibre Scientific is a diversified global developer, manufacturer and distributor of consumable products in the life sciences and diagnostics markets. Since inception, the business has continually expanded through a combination of organic growth and acquisitions, and today has a broad portfolio of more than 3,000 products, which it sells into over 100 countries worldwide. Calibre Scientific’s 6,000+ customers include blue-chip biopharmaceutical companies, leading academic institutions and diagnostics companies.

Dr. Benjamin Travis, CEO of Calibre Scientific, commented: “We are happy to have completed the refinancing of the business and secured financing to continue to execute our acquisition growth strategy. This strong foundation will allow us to progress with our next phase of development.”

Brian Wall, Founder and CEO of StoneCalibre, added: “We are pleased to bring CVC Credit Partners onboard. Their ability to quickly understand the dynamics of the market and Calibre Scientific’s operating model was impressive, while their experience in supporting international growth strategies convinced us that they will have a key role to play going forward.”

Andrew Eversfield, Director of CVC Credit Partners’ U.S. Private Debt business, said: “We’re excited to support a company delivering high societal impact and one whose mission is as critical as ever. Calibre Scientific is an established player in a growing market. It has a broad portfolio of leading brands and a loyal and highly diverse customer base. We look forward to partnering with StoneCalibre and helping to write future chapters of the Calibre Scientific story.”

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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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