Blackstone continues biotech push with up to $250M cell therapy investment

A life sciences fund managed by Blackstone will back Autolus Therapeutics with up to $250 million for development of a cell-based cancer treatment, the latest in a string of biotech-focused deals by the investing giant.
Per the deal, announced early Monday, Blackstone Life Sciences will make a $100 million equity investment in Autolus and commit $50 million to finance work on an experimental leukemia therapy known as obe-cel. Should the biotech hit certain development and regulatory milestones, Blackstone could fund up to $100 million more and, if obe-cel is approved, Blackstone would also receive royalties on sales.