Press Release November 26, 2019

Blackstone Life Sciences and Ferring Invest Over $570 Million USD in Novel Gene Therapy for Bladder Cancer Patients

The Goodwin Life Sciences team advised Blackstone Life Sciences in its joint investment alongside Ferring Pharmaceuticals of over $570 million USD in nadofaragene firadenovec (rAd-IFN/Syn3), an investigational novel gene therapy in late-stage development for patients with high-grade, Bacillus Calmette-Guérin (BCG) unresponsive, non-muscle invasive bladder cancer (NMIBC).

FerGene, a new gene therapy company and Ferring subsidiary, has been created to potentially commercialize nadofaragene firadenovec in the US and to advance the global clinical development. FerGene’s goal is to bring this promising therapy to a patient population which has seen little improvement in their standard of care over the past twenty years. Blackstone will invest $400 million USD and Ferring will invest up to $170 million USD in FerGene. Ferring will also potentially launch and commercialize nadofaragene firadenovec outside of the US. 

Nadofaragene firadenovec, currently in late Phase 3 development, has been granted Breakthrough Therapy designation and had its Biologics License Application (BLA) accepted for filing and granted Priority Review by the FDA.

Blackstone Life Sciences is a private investment platform with capabilities to invest across the life-cycle of companies and products within the key life science sectors. Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group committed to helping people around the world build families and live better lives.

The Goodwin team was led by Richard Hoffman, Noelle Dubiansky and Ed Amer, with valuable assistance from Nany Urizar and Kimberley Maruncic (Corporate/Licensing), Dan Karelitz and Alex Apostolopoulos (Tax), Stephanie Philbin, Julie Tibbets and Steven Tjoe (FDA Regulatory),  Michael Goldstein and Anna Dodson (Debt Finance & Financial Restructuring), Kevin Kabler (Patents), Sara Bock (ERISA), Jake Osborn (Global Trade), and  Srikanth Reddy (Litigation).

For more details, read the press release and articles in Reuters, FierceBiotech, BioSpace and The Pharma Letter.