November 8, 2021 -- Blackstone Life Sciences will invest up to $250 million to advance Autolus Therapeutics' drug candidate obecabtagene autoleucel (obe-cel) for the treatment of adult acute lymphoblastic leukemia.
The companies signed a deal in which Blackstone will provide funding to advance obe-cel, a CD19 CAR T-cell investigational therapy candidate, as well as next-generation product therapies of obe-cel in B-cell malignancies.
As part of the $250 million transaction, Blackstone will invest $150 million in product financing to support obe-cel development and commercialization, with $50 million payable upon closing of the transaction and the remainder payable based on certain development and regulatory achievements.
Blackstone has also agreed to purchase $100 million of Autolus' American depositary shares in a private placement. Blackstone can nominate a member to Autolus' board of directors.
Copyright © 2021 scienceboard.net