Blackstone Eyes Anthos Therapeutics Sale, Potentially Valued in Billions

Blackstone Eyes Anthos Therapeutics Sale, Potentially Valued in Billions

Private equity giant Blackstone (NYSE: BX) is reportedly considering selling Anthos Therapeutics, a venture it launched in partnership with Novartis (SIX: NOVN) four years ago, insiders revealed.

Though Anthos hasn’t yet commercialized any products or generated revenue, its prospective sale could fetch several billion dollars, a stark contrast to the initial $250 million investment Blackstone made in its establishment in 2019, sources familiar with the matter disclosed.

The company’s blood-thinning medications have progressed into late-stage clinical trials, typically the conclusive phase before seeking regulatory approval. This advancement is deemed a significant driver behind the considerable surge in its value since its inception, according to the sources.

Based in Cambridge, Massachusetts, Anthos’ leading candidate, a monoclonal antibody named abelacimab, targets patients with atrial fibrillation resistant to standard anticoagulants due to heightened bleeding risks. Anthos stated that over 37 million individuals globally suffer from atrial fibrillation, significantly elevating the risk of stroke.

Sources noted that Blackstone has engaged investment bankers to explore the potential sale of Anthos, underscoring the confidentiality of the matter and cautioning that a deal is not assured.

A spokesperson from Blackstone opted not to provide comments on the matter.

Joseph Baratta, Blackstone’s global head of private equity, later confirmed in an interview with CNBC on Monday that the firm was indeed considering divesting its stake in Anthos in response to inquiries about Reuters’ report.

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