Blackstone Life Sciences’ $570 Million Investment In Novel Gene Therapy

Goodwin Procter LLP advised Blackstone Life Sciences in its joint investment alongside Ferring Pharmaceuticals of over $570 million USD in nadofaragene firadenovec (rAd-IFN/Syn3), an investigational novel gene therapy in late-stage development for patients with high-grade, Bacillus Calmette-Guérin unresponsive, non-muscle invasive bladder cancer. Dechert advised Ferring Pharmaceuticals on the deal.

FerGene, a new gene therapy company and Ferring subsidiary, has been created to potentially commercialize nadofaragene firadenovec in the US and to advance the global clinical development. FerGene’s goal is to bring this promising therapy to a patient population which has seen little improvement in their standard of care over the past twenty years. Blackstone will invest $400 million USD and Ferring will invest up to $170 million USD in FerGene. Ferring will also potentially launch and commercialize nadofaragene firadenovec outside of the US.

Nadofaragene firadenovec, currently in late Phase 3 development, has been granted Breakthrough Therapy designation and had its Biologics License Application (BLA) accepted for filing and granted Priority Review by the FDA.

Blackstone Life Sciences is a private investment platform with capabilities to invest across the life-cycle of companies and products within the key life science sectors. Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group committed to helping people around the world build families and live better lives.

The Goodwin team was led by Richard Hoffman (Picture), Noelle Dubiansky and Ed Amer, with valuable assistance from Nany Urizar, Kimberley Maruncic and Eugene Shin (Corporate/Licensing), Dan Karelitz and Alex Apostolopoulos (Tax), Stephanie Philbin, Julie Tibbets and Steven Tjoe (FDA Regulatory),  Michael Goldstein and Anna Dodson (Debt Finance & Financial Restructuring), Kevin Kabler (Patents), Sara Bock (ERISA), Jake Osborn (Global Trade), and  Srikanth Reddy and Batoul Husain (Litigation).

The Dechert team was led by Corporate Partner David Schulman (Washington, D.C.), Associate Mina Miljevic (Washington, D.C.), and included Tax Partner Joshua Milgrim (New York), Employee Benefits and Executive Compensation, Partner Eric Rubin (Philadelphia), Associate Aryeh Zuber (New York), Antitrust/Competition Partner Craig Falls (Washington, D.C.).

Involved fees earner: Craig Falls – Dechert; Joshua Milgrim – Dechert; Mina Miljevic – Dechert; Eric Rubin – Dechert; David Schulman – Dechert; Aryeh Zuber – Dechert; Edward Amer – Goodwin Procter; Alex Apostolopoulos – Goodwin Procter; Sarah Bock – Goodwin Procter; Anna Dodson – Goodwin Procter; Noelle Dubiansky – Goodwin Procter; Michael Goldstein – Goodwin Procter; Richard Hoffman – Goodwin Procter; Kevin Kabler – Goodwin Procter; Daniel Karelitz – Goodwin Procter; Kimberley Maruncic – Goodwin Procter; Jacob Osborn – Goodwin Procter; Stephanie Philbin – Goodwin Procter; Srikanth Reddy – Goodwin Procter; Eugene Shin – Goodwin Procter; Julie Tibbets – Goodwin Procter; Steven Tjoe – Goodwin Procter; Nancy Urizar – Goodwin Procter;

Law Firms: Dechert; Goodwin Procter;

Clients: Blackstone; Ferring Pharmaceuticals Inc.;

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Author: Ambrogio Visconti