Blackstone Announces Final Close of Record $6.3 Billion Life Sciences Fund – the Largest Private Fund Dedicated to Life Sciences

— Oversubscribed fund reflects strong track record

NEW YORK & CAMBRIDGE, Mass.–(BUSINESS WIRE)–Blackstone (NYSE: BX) today announced the final close of Blackstone Life Sciences VI (“BXLS VI”). BXLS VI was oversubscribed and closed at its hard cap of $6.3 billion of total capital commitments. It is the largest life sciences private fund ever raised and is nearly 40% larger than its predecessor vehicle.

Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences (“BXLS”), said, “We are grateful to the BXLS VI investors for their strong support of our strategies and the firm’s enduring conviction in the life sciences.” He added, “Our partnerships with global leaders have produced 34 regulatory approvals of innovative medicines and devices. This track record highlights how we work successfully with industry trailblazers to help bring their most important products to patients around the world.”

Blackstone launched its dedicated BXLS platform in 2018 to invest across the life cycle of companies and products in the key life science sectors. With $15 billion in assets under management as of Q4 2025, BXLS leverages the team’s deep domain expertise, industry relationships globally and scale capital to help finance the development and commercialization of new medicines and technologies with the potential to transform patients’ lives. These include blockbuster medicines such as LEQVIO®, AMVUTTRA®, and IMBRUVICA® and devices like MiniMed Flex™.

The BXLS’ franchise 86% approval success rate for Phase III assets has outperformed the industry’s average and led to strong performance for the benefit of its investors.

Representative Transactions

BXLS has committed nearly $2 billion in new investments over the past 12 months and a representative list of BXLS transactions is shown below:

• Merck Enters into Research and Development Funding Agreement with Blackstone Life Sciences for Sacituzumab Tirumotecan (sac-TMT)
• Blackstone Life Sciences Announces a Co-funding Agreement for Acute Myeloid Leukemia
• Teva and Blackstone Life Sciences Announce $400 Million Strategic Growth Capital Agreement to Advance duvakitug
• Blackstone and Alnylam Enter Into $2 Billion Strategic Financing Collaboration to Accelerate the Advancement of RNAi Therapeutics
• Blackstone Life Sciences and Anthos Therapeutics Announce Agreement for Anthos to be Acquired by Novartis for up to $3.1 Billion

These transactions underscore BXLS’ ability to source, finance, and actively manage large-scale investments in products for our partners and to serve as a trusted capital provider. BXLS leads the market by transaction count among sellers of drug and medical technology royalties, from the late-stage products that it funds and eventually receive approval, based on transactions completed since the BXLS platform was established.

About Blackstone Life Sciences

Blackstone Life Sciences (BXLS) is a leading 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, BXLS helps bring to market promising new medicines and medical technologies that improve patients’ lives and has $15 billion in assets under management as of Q4 2025.

Contacts

David Vitek

(212) 583-5291

David.Vitek@blackstone.com

Paula Chirhart

(347) 463-5453

Paula.Chirhart@Blackstone.com