Blackstone Inc. is investing as much as $ 250 million in U.K. biotechnology company Autolus Therapeutics PLC to fund the final stages of development of a new therapy to treat a serious form of leukemia, the companies said.
Of the total investment, as much as $ 150 million will support the development and commercialization of obecabtagene autoleucel, a cell therapy that targets a condition called acute lymphoblastic leukemia. London-based Autolus AUTL, -1.59% will receive $ 50 million of that upfront, with the rest to be paid as the company achieves certain milestones. In return, Blackstone’s life-sciences unit will receive a portion of the therapy’s royalties.