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Finance Watch: Blackstone Closes $1.6bn Fund To Back Commercial-Stage Companies

Follow-On To $4.6bn Fund Raised In 2020

 
• By Mandy Jackson

Public Company Edition: Blackstone Life Sciences Yield will finance approved products, while the firm’s prior fund supports late-stage programs. Also, Coeptis will merge with a SPAC, Bausch + Lomb secured post-IPO debt, and BioXcel revealed a $260m financing and new subsidiary.

Finance Watch Public Company
• Source: Alamy

Blackstone has raised a new fund called Blackstone Life Sciences Yield (BXLS Yield), providing $1.6bn in additional capital for drug, device and diagnostic developers with late-stage assets. But while the $4.6bn Blackstone Life Sciences Fund V that closed in 2020 focused on product candidates in late-stage development, the new fund is targeting companies with approved products.

The Blackstone Life Sciences (BXLS) private investment platform exists to fill funding gaps in later stages of product development and the firm’s new fund aims to provide stability to companies seeking capital in a turbulent financial market

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