8th Nov 2021 09:37
(Alliance News) - Syncona Ltd on Monday said Blackstone Life Sciences has entered into a strategic collaboration & financing agreement with Syncona portfolio company Autolus Therapeutics PLC.
The London-based investment trust dedicated to life science investments said Blackstone will invest USD250 million in Autolus, a T cell programming technologies company.
Syncona said USD100 million equity investment will be made immediately, with up to USD150 million available in product financing to support lead obe-cel programme. The remaining USD50 million of product financing is payable on closing of the transaction with the remainder payable based on some near-term milestones.
In addition, Blackstone will appoint a member to the Autolus board and will receive a capped mid-single digit royalty based on product revenue generated with worldwide net sales of obe-cel and potential next generation products
"We are delighted that Blackstone are investing in Autolus and remain excited about the obe-cel programme as a potentially stand-alone treatment for patients with adult acute lymphoblastic leukaemia," said Syncona Investment Management Chief Executive Officer Martin Murphy.
"We believe that obe-cel represents a potentially best-in-class product that could represent a transformational treatment option for adult acute lymphoblastic leukaemia patients," added Murphy.
FTSE 250-listed Syncona shares were trading 0.2% lower in London on Monday at 198.80 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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