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- A private equity group run by Blackstone enters into a formal agreement to acquire Nucleus Network from Crescent Capital
- Nucleus Network is Australia’s largest phase one clinical trial provider with facilities in Melbourne, Brisbane and Minneapolis
- Nucleus has assisted in the delivery of over 800 phase one clinical studies over the last 15 years, assisting in the commercialisation of new medications and therapies
- Blackstone’s speciality life sciences investment platform (BXLS) has more than $7 billion in assets under management
A Blackstone-managed private equity fund has entered into a formal deal to purchase Nucleus Network from private equity firm Crescent Capital
Nucleus Network is Australia’s largest phase one clinical trial provider with facilities in Melbourne, Brisbane and Minneapolis.
Australia is an internationally prominent location for clinical trials, Blackstone said in a statement, thanks to its open regulatory regime, robust talent pool, and world-class research and healthcare facilities.
The increased demand from offshore biotech businesses for fast and reliable trials is likely to cause a large increase in phase one trial volumes in Australia, according to Blackstone.
Nucleus Network CEO Cameron Johnson said after five years of growth, the new partnership with Blackstone is the perfect match.
“We are excited to leverage Blackstone’s expansive global network and significant experience in the life sciences sector to accelerate our next phase of global growth in phase one clinical trial delivery,” he said.
Nucleus has assisted in the delivery of over 800 phase one clinical studies over the last 15 years, helping with the commercialisation of new medications and therapies.
One of Blackstone’s most confident investing areas is life sciences.
In addition to significant money invested in private equity, real estate and credit strategies, Blackstone’s speciality life sciences investment platform (BXLS) has more than $7 billion in assets under management and assists in bringing promising new medicines and medical technologies to market.
Blackstone Australia’s head of private equity James Carnegie said the company looks forward to the next phase of growth for Nucleus Network.
“We’re proud to back one of Australia’s market leading phase one clinical trials providers as they look to expand and serve the rapidly growing biotech market both here and internationally,” he said.
Blackstone has a history of investing in healthcare and life sciences in Asia and beyond.
It completed the corporate carveout of Alinamin Pharmaceutical in Japan earlier this year, the largest private equity transaction in the nation since 2017.
Precision Medicine Group, a next-generation life sciences services and technology firm that helps biopharmaceutical companies plan and perform sophisticated biomarker-based clinical trials and bring new treatments to market, was acquired by Blackstone in 2020.
