Blackstone acquiring Clarus; Galakatos to lead PE firm's new life sciences unit

Blackstone (NYSE:BX) will acquire life sciences investment firm Clarus and launch a new unit, Blackstone Life Sciences. Clarus co-founder and Managing Director Nick Galakatos, who will lead the unit, told BioCentury the group intends to invest in biopharmas' late-stage assets, building on Clarus' strategy with its risk-sharing Clarus IV fund.

Galakatos said Blackstone offers the ability to continue executing on that strategy at a larger scale. He said Clarus has participated in transactions for biopharmas' late-stage assets with deal sizes increasing recently as pipelines and clinical costs have grown...