Private equity spends $8B on one of biotech's biggest realtors

Blackstone, a global private equity heavyweight, signed on to buy BioMed Realty for $8 billion, picking up one of the life sciences industry's largest leasers of lab and office space. Blackstone expects the all-cash deal to close in the first quarter of 2016, and the purchase price presents a 24% premium over BioMed's prespeculation share price. For its money, the firm gets a realtor with 18.8 million rentable square feet for biotech companies in the global hubs of Cambridge, MA; San Francisco; San Diego and Seattle. Release

Suggested Articles

Preclinical-stage biotech Abpro Therapeutics wants to trial its two lead candidates for HER2-positive cancers and diabetic macular edema in 2019.

After a rough patch in 2017, the stars seem to be realigning for French CAR-T expert Cellectis, which just closed a $164 million U.S. public offering.

Investment firm Frazier Healthcare Partners has closed its 11th fund—worth $780 million—that will help established companies accelerate their growth.