Blackstone Life Sciences, which has some $17 billion in assets under management, typically invests in late-stage medicines invented by biotech and pharmaceutical companies in exchange for a royalty on future sales. In 2024, for example, the firm invested as much as $750 million in financing for Moderna’s flu vaccine development. But Blackstone also wants to own a stake in some companies that it backs. In late March, Blackstone closed its latest life-sciences fund with $6.3 billion of commitments, the firm’s biggest haul for backing clinical trials of medicines and technologies. Dr. Jenny Rooke is Founder and Managing Director of Genoa Ventures. She discusses the cross between tech and health with Carol Massar and Tim Stenovec. See omnystudio.com/listener for privacy information.

Investing in Life Sciences

Bloomberg Businessweek

# Full Transcript

**Podcast:** Bloomberg Businessweek

## Participants

- **Carol Massar** (Bloomberg)
- **Tim Stenovec** (Bloomberg)
- **Jenny Rooke** (Genoa Ventures)

## Transcript

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You're listening to Bloomberg Businessweek with Carol Massar and Tim Stenovec on Bloomberg Radio. What's the matter? You're thinking a lot about biotech. I love the biotech sector. I still think that there's so much we have yet to learn about the body and how things work. Yeah. And I think with AI, there is this potential. I just want cancer to be cured. I just want cancer to be cured. Truly. I know. I know. I feel like it's the next big thing. We've figured out a lot of things.

Well, that's why so many. There's this idea of cancer. Moonshots. And it's just, I don't know. It's just like, it's very frustrating. Yeah. I know. I know. I know. We talk about it a lot. We do. There's a lot of money going, though, at the world of pharmaceuticals and biotech. And one story we wanted to point out, or Jerry Smith wrote this of Bloomberg, that Blackstone is investing $250 million in a biotech startup. It's Anagram Therapeutics. It's part of the private equ...

Investing in Life Sciences

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
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Investing in Life Sciences

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.