Blackstone has announced that it has entered into a definitive agreement to acquire Nucleus Network, Australia’s largest phase one clinical trials provider with world-class facilities in Melbourne, Brisbane and Minneapolis. 

The recent move is another feather in the series of acquisitions by Blackstone, which has a strong track record of investing in healthcare and life sciences in Asia and around the world. Earlier this year, it completed the corporate carveout of Alinamin Pharmaceutical in Japan in the largest private equity deal in the country since 2017. In 2020, Blackstone invested in Precision Medicine Group, a next-generation life sciences services and technology company that helps biopharmaceutical companies design and conduct complex biomarker-based clinical trials and bring innovative therapies to market.

Cameron Johnson, Chief Executive Officer of Nucleus Network, said, “After five years of substantial growth, this new partnership with Blackstone is a perfect match for Nucleus Network. 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.” 

Life sciences is one of Blackstone’s highest conviction investment themes. In addition to substantial capital invested across Private Equity, Real Estate and Credit strategies, Blackstone’s specialist Life Sciences investment platform (BXLS) has more than $7 billion in assets under management and helps bring to market promising new medicines and medical technologies. In July 2020, BXLS raised the largest private life sciences fund to date. 

James Carnegie, Head of Private Equity, Blackstone Australia, said: “We look forward to working with Cameron Johnson and his outstanding team to help Nucleus enter its next phase of growth, combining the domain expertise and scale of the Blackstone Life Sciences network with their talent, experience and enthusiasm. 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.” 

Over the last 15 years, Nucleus has helped deliver more than 800 phase one clinical trials, supporting the commercialization of innovative new medicines and therapies. With its exceptional clinical and regulatory expertise, it has become a trusted specialist partner to biotech companies and research hospitals around the world