BRIEF—Blackstone gives PTC plenty of runway to make good on pipeline

US biopharma PTC Therapeutics has entered into a strategic financing collaboration with funds managed by Blackstone.

The investment company is committing a total of up to $1 billion to PTC - primarily as a loan with Translarna (ataluren), Emflaza (deflazacort) and three other drugs as collateral - but also including a $50 million purchase of PTC stock.

PTC’s lead programs have focused on the treatment of Duchenne muscular dystrophy and Huntington’s disease.

Emily Hill, chief financial officer, PTC, said: “This strategic financing will support the acceleration of PTC’s robust and diversified pipeline, business development opportunities and general corporate purposes.

“Our strong internal drug development and commercialization efforts, record of business development and value creation, combined with Blackstone’s network and life sciences expertise, puts PTC in a strong position to continue to execute our mission.”