Ferring Pharma and Blackstone Life Sciences create new subsidiary with $570 million to develop gene therapies for bladder cancer
Ferring Pharmaceuticals and Blackstone Life Sciences have joined hands to invest $570 million into a new gene therapy subsidiary FerGene, to potentially commercialize nadofaragene firadenovec (rAd-IFN/Syn3) initially in the USA. It is an adenovirus vector based gene therapy to express gene interferon alfa-2b, resulting in high secretion of cancer fighting protein. Currently in phase III, the therapy has already received a Breakthrough Therapy designation from FDA. Additionally, the Biologics License Application (BLA) has been accepted for filing and granted a priority review. The subsidiary will be created by investment of $400 million from Blackstone Life Sciences and $170 million by Ferring.
“Through FerGene, Blackstone and Ferring’s goal is to successfully commercialize and further develop this adenovirally mediated interferon alfa-2b gene therapy, a potential breakthrough treatment for high-grade, BCG unresponsive, non-muscle invasive bladder cancer patients,” said Paris Panayiotopoulos, Blackstone Life Sciences Managing Director.
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