Blackstone backs PTC Therapeutics with up to $1B

Biopharmaceutical company PTC Therapeutics has entered into a financing partnership with Blackstone worth up to $1 billion.

Advertisement

Blackstone Life Sciences and Blackstone Credit will provide PTC with $500 million in initial funding. The funding will support PTC’s goal of delivering at least one therapy every two to three years, according to an Oct. 27 Blackstone news release.

“This strategic financing will support the acceleration of PTC’s robust and diversified pipeline, business development opportunities and general corporate purposes,” PTC Therapeutics CFO Emily Hill said in the release.

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Innovation

Advertisement

Comments are closed.