Blackstone Funds New CAR-T Company with $250M Series A; Company Named AvenCell Therapeutics
Executive Summary
Funds managed by Blackstone Life Sciences have committed $250M towards the launch of a new autologous and allogeneic universal chimeric antigen receptor (CAR) T-cell therapy company created by Intellia Therapeutics and Cellex Cell Professionals GmbH, the parent company of cell therapy company GEMoaB GmbH. The new firm will combine GEMoaB’s world-leading clinical-stage universal CAR-T platforms with Intellia’s differentiated allogeneic cell platform and CRISPR cell engineering to discover allogeneic universal CAR T-cell therapies for immuno-oncology and autoimmune diseases.
Update 02/24/2022
In its 10-K filing, Intellia revealed that the new company has been named AvenCell. Blackstone has approximately 33% ownership of the company (equal to Intellia and Cellex). See related deal profile for further details on licensing and development collaboration information between Intellia and AvenCell.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Gene Therapy, Cell Therapy
Deal Status
- Final
Deal Type
-
Financing
- Venture Financing
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