Saint-Prex, Switzerland and Cambridge, Massachusetts, USA – Ferring Pharmaceuticals and Blackstone Life Sciences today announced that they have reached an agreement to restructure their 2019 collaboration in nadofaragene firadonavec, an investigational novel gene therapy in late-stage development for patients with high-grade, Bacillus Calmette-Guerin unresponsive, non-muscle invasive bladder cancer.
As part of this restructuring, Ferring will now assume full and sole control of FerGene and nadofaragene firadonavec. The restructured agreement allows for a return on capital already invested by Blackstone, and also provides Blackstone with the option to make a passive financial investment in nadofaragene firadonavec upon achievement of a specified regulatory event in exchange for a royalty interest.
Ferring is committed to and will continue developing nadofaragene firadonavec as an important treatment option for bladder cancer patients with the goal of commercialization, if approved.
About Ferring Pharmaceuticals
Ferring Pharmaceuticals is a research driven, specialty biopharmaceutical group committed to helping people around the world build families and live better lives. Headquartered in Saint-Prex, Switzerland, Ferring is a leader in reproductive medicine and maternal health, and in specialty areas within gastroenterology and urology. Ferring has been developing treatments for mothers and babies for over 50 years and has a portfolio covering treatments from conception to birth. Founded in 1950, privately owned Ferring now employs around 6,000 people worldwide, has its own operating subsidiaries in more than 50 countries, and markets its products in 110 countries.
About Blackstone Life Sciences
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. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines that improve patients’ lives.