Blackstone Pours $125M Into NantWorks Biopharmaceutical Arm

Law360, New York (July 24, 2012, 4:57 PM EDT) -- New York private equity giant Blackstone Group LP invested $125 million in a division of Los Angeles-based health care company NantWorks LLC to help advance the development of biologically derived pharmaceuticals, the pair said Tuesday.

The firm's contribution to NantPharma, which brings three Blackstone representatives to the board, will back the development of biopharmaceuticals — which include proteins, viruses and blood plasma products — used to treat chronic diseases, according to parent company NantWorks.

Through the deal, NantPharma will also bolster its capabilities to manufacture safe,...
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