Blackstone’s Galakatos on scaling deals with $6.3B fund: ‘Broader, further’

Blackstone’s 2020-vintage life sciences fund invested in two drugs that have already become blockbusters, and helped a large-cap biotech become profitable. Now, with a new vehicle 40% larger than the prior fund, its team is making deals at an even greater scale.

In a conversation with BioCentury, Nick Galakatos, the global head of the firm’s life sciences unit, discussed the goals for the new $6.3 billion Blackstone Life Sciences VI, announced late last month. He also reflected on the unit’s evolution over the years since Blackstone Inc. (NYSE:BX) acquired Clarus, its predecessor firm, in October 2018, to create Blackstone Life Sciences (BXLS)...