Blackstone Life Sciences Supports Autolus Therapeutics with $250 Million Investment
Autolus Therapeutics plc, a clinical-stage biopharmaceutical company that develops cell therapies for cancer treatment has announced a financial agreement with Blackstone Life Sciences for $250 million.
Autolus will receive up to $250 million in equity and product financing from Blackstone which will enable the development of CART cell therapy product – obecabtagene autoleucel (obe-cel), and other next-generation obe-cel product therapies for B cell malignancies.
As part of this transaction, Blackstone will provide $150 million in product financing to assist obe-cel development and commercialization, with $50 million due upon transaction close and rest depending on the specific development and regulatory milestones.
Blackstone will provide $150 million in product financing to assist obe-cel development and commercialization as part of this $250 million deal, with $50 million due upon transaction close and the rest depending on specific development and regulatory milestones. In addition, Blackstone has committed to buy $100 million of Autolus’ American Depositary Shares, subject to customary accordance with the contract. Blackstone received the opportunity to designate a member to Autolus’ board of directors as part of the agreement.
About obe-cel (obecabtagene autoleucel)
Obe-cel is a CD19 CAR T cell investigational therapy designed to overcome the limitations in clinical activity and safety compared to current CD19 CAR T cell therapies. Designed to have a fast target binding off-rate to minimize excessive activation of the programmed T cells, obe-cel may reduce toxicity and be less prone to T cell exhaustion, which could enhance persistence and improve the ability of the programmed T cells to engage in serial killing of target cancer cells.
About obe-cel FELIX clinical trial
Obe-cel is currently being evaluated in a potentially pivotal Phase 1b/2 clinical trial for the treatment of Adult Lymphoblastic Leukemia, referred to as the FELIX clinical trial. Also, in collaboration with Autolus’ academic partner, UCL, obe-cel is currently being evaluated in a Phase 1 clinical trial in B-NHL.