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Ptc Therapeutics Announces Strategic Financing Collaboration With Blackstone With Up To $1 Billion In Funding

PUBLIC · PTCTOct 27, 2022•over 3 years ago
South PlainfieldBiotechnology

Description

PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that it has entered into a strategic financing collaboration with funds managed by Blackstone (NYSE: BX) to support its mission to reach a steady-state of delivering at least one therapy every 2-3 years to continue to bring transformative medicines to patients globally. As part of the collaboration, funds managed by Blackstone Life Sciences and Blackstone Credit will provide PTC with an initial $500 million commitment, including $350 million in low-cost, low-dilution capital at close.

Company Information

Company

PTC THERAPEUTICS, INC.

Location

100 CORPORATE COURT

South Plainfield, New Jersey, United States

About

PTC Therapeutics is a biopharmaceutical company that engages in the discovery, development and commercialization of small-molecule drugs.

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