Blackstone’s Acquisition of Clarus

Simpson Thacher advised Blackstone (NYSE: BX) on the deal

Vlackstone (NYSE:BX) 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.

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.

Simpson Thacher advised Blackstone with a team including Elizabeth Cooper (Picture), William Allen, Todd Noelle, Mary-Jane Rabeony and Sara Park (M&A); Michael Wolitzer, Peter Gilman, Steven Homan and Steven DiGregoria (Private Funds); Greg Grogan, Patricia Adams and Lauren Roth (Executive Compensation and Employee Benefits); John Hart, Nancy Mehlman and Tyler Robbins (Tax); Jeanne Annarumma (ERISA); and Joshua Bonnie and William Golden (Capital Markets).

Involved fees earner: Elizabeth Cooper – Simpson Thacher & Bartlett; William Allen – Simpson Thacher & Bartlett; Todd Noelle – Simpson Thacher & Bartlett; Mary-Jane Rabeony – Simpson Thacher & Bartlett; Sara Park – Simpson Thacher & Bartlett; Michael Wolitzer – Simpson Thacher & Bartlett; Peter Gilman – Simpson Thacher & Bartlett; Steven Homan – Simpson Thacher & Bartlett; Stephen DiGregoria – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Patricia Adams – Simpson Thacher & Bartlett; Lauren Roth – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; John Hart – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Tyler Robbins – Simpson Thacher & Bartlett; Joshua Ford Bonnie – Simpson Thacher & Bartlett; William Golden – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Blackstone;

Author: Ambrogio Visconti