Investors3
3 years ago
Blackstone Tactical Opportunities to Acquire the Certified Collectibles Group, a Leading Provider of Tech-Enabled Authenticat...
July 01 2021 - 10:00AM
Business Wire
Blackstone (NYSE:BX) announced today that funds managed by its Tactical Opportunities business (“Blackstone”) have agreed to acquire a majority stake in the Certified Collectibles Group (“CCG”) in a transaction valuing the company at more than $500 million. Mark Salzberg, CCG’s founder, and Steven R. Eichenbaum, CCG’s CEO, will retain a significant minority stake. Additional investors in today’s transaction include Roc Nation; Michael Rubin, founder and executive chairman of Fanatics; SC.Holdings, a growth equity platform; Mastry, founded by Rudy Cline-Thomas; Andre Iguodala; Daryl Morey, President of Basketball Operations for the Philadelphia 76ers; and Main Street Advisors, a leading investment advisory firm to prominent athletes, recording artists, and other leaders across entertainment and business.
CCG is a leading, global provider of expert, impartial and tech-enabled services that add value and liquidity to collectibles. Founded in 1987, CCG offers authentication, grading and conservation services that have unlocked billions of dollars in secondary market value. Today, CCG sits at the forefront of the fast-growing global collectibles industry with offices on three continents, robust digital offerings and comprehensive certification services for collectibles.
Blackstone will seek to accelerate CCG’s growth, enabling the company to invest significantly in its current and planned services, adding and training new employees, expanding its geographic and product reach, acquiring new technologies and developing its digital presence. Blackstone is one of the world’s leading investment firms with nearly $650 billion in assets under management and a strong track record of creating value and a positive impact for the companies it acquires and the communities that they serve.
C. C. Melvin Ike, Principal at Blackstone, said: “As thematic investors, we look for exceptional entrepreneurial teams succeeding in growing markets, and CCG is a great example. We have been closely following the rise of the global physical and digital collectibles industry for several years and we were drawn to CCG because of their leadership role in the categories that they serve, and Blackstone’s ability to grow the platform through both organic and inorganic initiatives. We look forward to working together to help the company continue and even accelerate its impressive growth trajectory.”
CCG’s leadership team will remain in place, combining their experience and expertise with Blackstone’s extensive resources. Over the last 35 years, CCG has expanded from collectible coins to comic books, banknotes, magazines, concert posters, stamps, trading cards, sports cards and estate items. CCG has certified more than 62 million of these collectibles, with a combined fair market value approaching $50 billion.
Mark Salzberg, Founder of CCG, said: “When I established CCG, I had a vision that we would transform collectibles into an asset class that is trusted by collectors, dealers and investors around the world. It has been incredible to be a part of this journey as we achieved and then exceeded these goals. I am excited to join with Blackstone as we enter the next phase of growth for CCG and the collectibles market.”
“We are thrilled to be partnering with Blackstone during this key point in the industry as the collectibles market continues to accelerate and attract new collectors and investors,” added Steven R. Eichenbaum, CEO at CCG. “From the moment we met the Blackstone team, we could tell that we shared the same vision for the future of our company and the global collectibles industry.”
Goldman Sachs & Co. LLC acted as exclusive financial advisor to CCG. Duane Morris acted as legal advisor to CCG. Weil, Gotshal & Manges acted as lead legal advisor to Blackstone. Golub Capital led the financing for the transaction.
About Blackstone
Blackstone is one of the world’s leading investment firms and seeks to create positive economic impact and long-term value for investors, the companies they invest in, and the communities in which they work. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Blackstone’s $649 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Blackstone Tactical Opportunities
Tactical Opportunities (Tac Opps) is Blackstone's opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities.
About Certified Collectibles Group® (CCG®)
CCG is a leading provider of expert, impartial and tech-enabled services that add value and liquidity to collectibles. The CCG companies include Numismatic Guaranty Corporation® (NGC®), Numismatic Conservation Services™ (NCS®), Paper Money Guaranty® (PMG®), Certified Guaranty Company® (CGC®), Classic Collectible Services® (CCS®), Certified Sports Guaranty™ (CSG™), Authenticated Stamp Guaranty® (ASG®) and Collectibles Authentication Guaranty® (CAG®). Since 1987, the CCG companies have certified more than 60 million coins, banknotes, comic books, trading cards, sports cards, stamps, estate items and related collectibles. Today, CCG serves the world of collectibles online and at its offices in Sarasota, Florida; London, England; Munich, Germany; and Shanghai and Hong Kong, China. To learn more, visit collectiblesgroup.com.
© 2021 Certified Collectibles Group. All rights reserved.
NGC, NCS, PMG, CGC, CCS, CSG, ASG, CAG and CCG are the registered trademarks or unregistered trademarks of Numismatic Guaranty Corporation of America, and/or its related companies in the United States and/or other countries. All other names and marks referenced in this release are the trade names, trademarks, or service marks of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210701005601/en/
For Blackstone
Matt Anderson
518-248-7310
Matthew.Anderson@Blackstone.com
For CCG
Janell Armstrong, Marketing Coordinator
941.360.3990 ext. 236
jarmstrong@collectiblesgroup.com
https://ih.advfn.com/stock-market/NYSE/blackstone-BX/stock-news/85496299/blackstone-tactical-opportunities-to-acquire-the-c
Investors3
3 years ago
Exeter Finance Announces Investment from Warburg Pincus-Led Investor Group
June 28 2021 - 08:00AM
PR Newswire (US)
IRVING, Texas, June 28, 2021 /PRNewswire/ -- Exeter Finance LLC, a leading indirect auto finance company, announced today that it has entered into a definitive agreement to be acquired by an investor group led by Warburg Pincus from funds managed by Blackstone (NYSE:BX). Terms of the private transaction were not disclosed.
Exeter is a rapidly growing tech-enabled indirect auto lender, with a managed loan portfolio of more than $7 billion. The company underwrites, purchases, services and securitizes retail installment contracts from more than 11,000 auto dealers and 475,000 customers nationwide. Exeter has leveraged its extensive automobile finance industry knowledge to deliver leading-edge technology and financial solutions to more than one million customers.
"We are thrilled to partner with the Warburg Pincus-led investor group as we enter this next phase of growth for Exeter. We have made tremendous progress under Blackstone's ownership establishing Exeter as an industry leader, and I'm proud of the team's solid execution," said Jason Grubb, Exeter's Chief Executive Officer.
Warburg Pincus is a long-time, active investor in the auto industry across a variety of verticals including auto lenders, rental car providers, e-commerce distribution, and software platforms. Notable investments in the auto value chain include: Santander Consumer USA (SCUSA), China Auto Rental, Au Financiers, Uxin, defi SOLUTIONS, Cango, and Car Trade.
"Exeter Finance is a pioneer in offering innovative financial solutions at scale across the credit spectrum. We have over a decade-long close and successful working relationship with this best-in-class management team and are looking forward to partnering with them again in Exeter Finance," said Dan Zilberman, Managing Director and Head of Special Situations, Warburg Pincus. "We are excited to partner with Jason and the Exeter Finance team to further build on the company's leading market position and accelerate future growth," added Eric Friedman, Managing Director, Warburg Pincus.
The transaction is expected to close by the end of 2021 and is subject to customary closing conditions. Jason Grubb will remain as CEO and a meaningful investor in the company, alongside the current Exeter management team.
Citi served as the lead financial advisor for Exeter Finance and Blackstone, along with Barclays, Deutsche Bank and Wells Fargo. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Exeter Finance and Blackstone. J.P. Morgan served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal advisor to the acquirers.
About Exeter Finance
Exeter Finance LLC is an indirect auto finance company headquartered in Irving, Texas. Founded in 2006, the company underwrites, purchases, services, and securitizes retail installment contracts from U.S. automobile dealers. Exeter works with more than 11,000 dealers and 475,000 customers nationwide providing indirect financing for both new and used vehicles. The company has a serviced finance portfolio of more than $7 billion. For more information, visit www.exeterfinance.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $60 billion in private equity assets under management. The firm's active portfolio of more than 200 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $90 billion in over 930 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.
Contacts
Exeter Finance
John Hoffmann
469-754-4443
John.Hoffmann@ExeterFinance.com
Warburg Pincus
Sarah McGrath Bloom, Warburg Pincus
212-878-6378
sarah.bloom@warburgpincus.com
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SOURCE Exeter Finance
Copyright 2021 PR Newswire
https://ih.advfn.com/stock-market/NYSE/blackstone-BX/stock-news/85457238/exeter-finance-announces-investment-from-warburg-p
Investors3
3 years ago
Blackstone Real Estate Income Trust to Acquire Home Partners of America
June 22 2021 - 08:00AM
Business Wire
Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced today that it has entered into a definitive agreement to acquire Home Partners of America (“HPA”), valuing the company at $6.0 billion. HPA’s unique, resident-led business model expands housing access and choice, while providing a clear path to homeownership to individuals and families across the United States. BREIT’s investment in HPA will be supported by its perpetual capital, enabling a truly long-term approach to the management of the properties. Furthermore, Blackstone’s substantial experience with rental residential properties and commitment to acting responsibly to support residents will bring valuable perspective and best-in-class operating standards to the ownership and maintenance of these homes.
HPA has a high-quality portfolio of over 17,000 homes across the United States. Its strong and experienced management team is committed to responsible ownership and seeks to provide potential residents flexibility, choice and control when deciding where and how to live. By purchasing homes on behalf of residents, HPA has helped thousands of home seekers live in a home they otherwise are not yet ready to purchase, under terms that best fit their needs. Furthermore, HPA’s program is built on transparency and can provide more optionality while lowering risk for residents as compared to a typical home purchase.
BREIT will support the HPA management team as it explores opportunities to expand access to high-quality housing for lower income households, including by formally launching its Choice Lease® program. Choice Lease is intended to provide a direct and tangible opportunity to help address housing affordability challenges for families across the U.S. Additionally, BREIT is committed to continuing and expanding the financial planning assistance program offered to all residents, free of charge.
Jacob Werner, Blackstone Real Estate Senior Managing Director, said, “The fundamental premise of the HPA platform is to provide residents with the opportunity to live in their chosen home with the option to purchase it—we intend to build on that goal and expand access to homes across the U.S. We look forward to working with HPA’s leadership team to further invest in the properties and continue its role as a valuable resource for people considering home purchases.”
Bill Young, Co-Founder and CEO of HPA, said, “This partnership with Blackstone Real Estate and its consistent support of our business will ensure we are well-positioned to expand the reach of our program to provide access to more homes while also delivering on our commitments to our current residents for the long-term. Our goal has always been to make homeownership a reality for more people, and now we can continue that mission, while providing even more flexibility and services for our residents.”
The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions and approvals.
Goldman Sachs & Co. LLC acted as financial advisor and Sidley Austin LLP and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel to HPA. BofA Securities and Wells Fargo Securities acted as financial advisors to BREIT and Simpson Thatcher & Bartlett LLP acted as its legal counsel.
About Blackstone Real Estate Income Trust
Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $196 billion in investor capital under management. Further information is available at www.breit.com.
About Home Partners of America
Chicago-based Home Partners of America, Inc. purchases, owns and operates high-quality single-family rental homes, dedicated to making living in a single-family home accessible for more people. Through their innovative Lease Purchase Program, Home Partners has provided access to single family housing for thousands of households all across the country. Home Partners is a dynamic leader in today's single-family housing market helping home seekers, sellers, and agents meet their various housing needs. Further information is available at https://www.homepartners.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005666/en/
Blackstone
Jeffrey Kauth
jeffrey.kauth@blackstone.com
+1 212-583-5395
HPA
Madeline Sweeney
madeline@sccadv.com
+1 630-706-1068
https://ih.advfn.com/stock-market/NYSE/blackstone-BX/stock-news/85415698/blackstone-real-estate-income-trust-to-acquire-hom
Investors3
3 years ago
Blackstone Life Sciences, Cellex Cell Professionals, and Intellia Therapeutics Launch New CAR T-Cell Company
June 22 2021 - 07:00AM
Business Wire
Focus will be on Development of Allogeneic Universal CAR T-Cell Therapies for Immuno-oncology and Autoimmune Diseases
- Blackstone Life Sciences Commits to an Active Role and a $250 Million Financing as Sole Founding Investor
- Cellex to Contribute Switchable Universal CAR-T Technology Developed by GEMoaB GmbH and Manufacturing Expertise
- Intellia Contributes Best-in-Class CRISPR/Cas9 Genome Editing Technology that Creates an Allogeneic Universal CAR-T Platform
- Intellia to Host Conference Call Today, June 22 at 8:00 a.m. ET
Blackstone (NYSE: BX) announced today that funds managed by Blackstone Life Sciences have committed $250 million towards the launch of a new autologous and allogeneic universal chimeric antigen receptor (CAR) T-cell therapy company, along with Intellia Therapeutics, Inc. (NASDAQ: NTLA) and Cellex Cell Professionals GmbH (“Cellex”), the parent company of GEMoaB GmbH (“GEMoaB”), a clinical-stage cell therapy company. The new company will combine GEMoaB’s world-leading clinical-stage universal CAR-T platforms with Intellia’s differentiated allogeneic cell platform and CRISPR cell engineering.
Intellia Therapeutics is a clinical stage, leading genome editing company focused on developing curative therapeutics using CRISPR/Cas9 technology. Cellex Cell Professionals GmbH holds the clinical-stage biopharmaceutical company GEMoaB, which is focused on the development of next-generation immunotherapies and cell therapies for hard-to-treat cancers.
The new company will be headquartered in Cambridge, Massachusetts and will acquire Cellex’s subsidiary GEMoaB GmbH with established offices and labs in Dresden, Germany. GEMoaB is developing a switchable universal platform to improve the therapeutic window of CAR T-cell therapies. This approach enables increased efficacy and safety across a range of cancers, including solid tumors, that are currently a challenge for existing cell therapies. In addition, the new company and Intellia will gain access to Cellex’s established cell therapy manufacturing capabilities to accelerate their respective ex vivo programs.
Andrew Schiermeier, Ph.D., current Executive Vice President and Chief Operating Officer of Intellia, will lead the launch as President and Chief Executive Officer.
“This launch represents the first of many steps to addressing the various limitations that currently exist in the cell therapy space, and I am both humbled and excited to be leading the creation of this company with a team of extremely talented individuals,” said Schiermeier. “Bringing together GEMoaB’s universal CAR-T platform with Intellia’s differentiated allogeneic T cell platform and CRISPR-based cell engineering provides a unique opportunity to move cell therapy technology to new heights. Our focus is on providing significantly safer and more efficacious treatments to patients who are suffering from hard-to-treat cancers and autoimmune diseases.”
“We can now build on our established and ongoing collaboration with Intellia,” said Dr. Armin Ehninger, GEMoaB’s Chief Scientific Officer. “With Blackstone’s contribution of funds and expertise, we will be able to combine our switchable CAR-T platform which has broad potential applicability and has already shown early signs of efficacy and a favorable side effect profile in an ongoing Phase Ia trial, with Intellia’s leading genome editing technology,” added Gerhard Ehninger, M.D., founder of Cellex and GEMoaB. “This will allow us to potentially replace the living drug, currently manufactured from the patient’s own immune cells, by cells from healthy donors. Our goal is for these cells to be immediately available to patients. This is a good day for patients.”
“Collaborations like this one are a key instrument for Intellia to strengthen investment in areas of strategic importance to us, enabling us to more quickly realize the full scope and potential of our genome-editing technology for patients in need of more effective therapies. With today’s announcement, we can drive the expansion of our pipeline into new areas, accelerating clinical validation of what we believe to be a platform for universal, allogeneic CAR-T cell therapies. Further, we can fortify our allogeneic cell engineering capabilities for wholly owned programs through a preferred relationship with Cellex,” said Intellia President and Chief Executive Officer, John Leonard, M.D.
“We believe that this exciting effort has the potential to leapfrog current CAR-T technologies and improve the standard of care for a broad range of patients,” said Dr. Nicholas Galakatos, Global Head of Blackstone Life Sciences. “As the sole founding investor, Blackstone will be actively involved in building this platform, leveraging our deep expertise in oncology and our scale capital. Our partnership with Intellia and Cellex is customized to address the new company’s needs and set it up for success from day one, and while it is an earlier-stage, growth investment for us, it demonstrates the versatility of our investment platform and commitment to advance potentially transformational technologies to benefit patients.”
Business transformation and responsibilities
Key components of the new company upon formation include the following highlights:
The new company will have an exclusive license to combine Intellia’s CRISPR/Cas9 allogeneic platform with GEMoaB’s switchable, universal CAR T-cell platforms (UniCAR and RevCAR).
GEMoaB will become a subsidiary of the newly established company and will continue to advance its clinical stage CAR T-cell programs.
The new company and Intellia will also simultaneously enter into a co-development and co-funding (Co-Co) agreement to develop an allogeneic universal CAR T-cell product for an immuno-oncology indication. Intellia will have one additional option to enter into a second Co-Co agreement from selected allogeneic universal CAR T-cell therapy products that the parties will develop under the collaboration.
Blackstone Life Sciences, Intellia and Cellex (and certain related entities) will each have equal ownership of the new company.
Experienced management to drive growth and scientific advancement
Dr. Schiermeier has spent more than two decades as an executive in the biotech and pharmaceutical industries, with experience ranging from managing the growth and operations for startups to directing the strategic and operational expansion of global brands for large pharma companies. At Intellia, he was responsible for working with the board of directors and executive committee in establishing and overseeing the implementation of Intellia’s strategic direction in both in vivo and ex vivo (engineered cell therapy) areas. He also oversaw the company’s portfolio management, drug development, manufacturing, and business development efforts. Prior to Intellia, he served as SVP and Global Head of Merck KGaA’s Oncology Business, a global operation with revenues in excess of $1 billion across 66 countries.
The new company includes a seasoned management team, including Chief Medical Officer Professor Gerhard Ehninger, a founding shareholder of GEMoaB who served as its Chief Medical Officer. Prof. Ehninger is also a founding shareholder and Chief Executive Officer of GEMoaB’s parent company Cellex. Prof. Ehninger was the Head of Hematology and Oncology at University Hospital Carl Gustav Carus of the Technical University Dresden, Germany, as well as the former President of the German Society of Hematology and Oncology (DGHO). As one of the world’s leading researchers in the areas of acute leukemias and solid tumors, Prof. Ehninger has published more than 700 scientific articles in peer-reviewed journals and was principal investigator for multiple pivotal studies in hematology and oncology. The new company has also appointed Dr. Armin Ehninger as its Chief Scientific Officer. Dr. Ehninger has served as Chief Scientific Officer of GEMoaB since 2014. He has more than 15 years of research and drug discovery experience in oncology and hematology, stem cell biology as well as cancer immunotherapy. Dr. Ehninger’s expertise and leadership were decisive in establishing GEMoaB’s Research & Development and pre-clinical capabilities. At GEMoaB, he was responsible for pre-clinical Research and Development, the translational programs for clinical studies as well as for Quality Systems and Quality Management.
The new company’s Board of Directors will be chaired by Dr. Olivier Brandicourt, a Senior Advisor to Blackstone Life Sciences and the former CEO of Sanofi S.A.
The transaction is expected to close in the third quarter of 2021 and is subject to customary closing conditions, including regulatory clearances.
Goldman Sachs & Co. LLC served as exclusive financial advisor to Intellia and Goodwin Procter and Hogan Lovells (Germany) acted as Intellia’s legal advisors. Ropes & Gray and Freshfields (Germany) acted as legal advisors to Blackstone Life Sciences. Noerr and Morgan Lewis acted as legal advisors to Cellex and GEMoaB.
Intellia Therapeutics Webcast Information
Intellia management will host a live webcast today, June 22, 2021 at 8:00 a.m. E.T. to discuss the corporate development. To join the webcast, please visit this link, or the Events and Presentations page of the Investors & Media section of the company’s website at www.intelliatx.com. A replay of the webcast will be available on Intellia’s website for at least 30 days following the call.
About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines that improve patients’ lives. More information is provided at https://www.blackstone.com/our-businesses/life-sciences/.
About Intellia Therapeutics
Intellia Therapeutics is a leading clinical-stage genome editing company, focused on the development of proprietary, potentially curative therapeutics using the CRISPR/Cas9 system. Intellia believes the CRISPR/Cas9 technology has the potential to transform medicine by both producing therapeutics that permanently edit and/or correct disease-associated genes in the human body with a single administration, and creating enhanced engineered cells that can treat oncological and immunological diseases. Intellia’s combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts it in a unique position to unlock broad therapeutic applications of the CRISPR/Cas9 technology and create new classes of therapeutic products. Learn more about Intellia and CRISPR/Cas9 at intelliatx.com. Follow us on Twitter @intelliatweets.
About GEMoaB
GEMoaB is a privately owned, clinical-stage biopharmaceutical company.
GEMoaB is developing switchable universal CAR-T platforms (UniCAR and RevCAR) to improve the therapeutic window and increase efficacy and safety of CAR-T cell therapies in challenging cancers, including acute leukemias and solid tumors. Conventional CAR-T cells depend on the presence and direct binding of cancer antigens for activation and proliferation. An inherent key feature of the GEMoaB platforms is a switchable on/off mechanism enabled by pharmacokinetic half-life and internalization of soluble adaptors termed targeting modules (TMs). These TMs provide the antigen-specificity to activate UniCAR or RevCAR gene-modified T-cells (UniCAR-T or RevCAR-T) and consist of a highly flexible antigen-binding moiety, linked to a motif recognized by UniCAR-T or RevCAR-T respectively.
GEMoaB has a broad pipeline of product candidates in pre-clinical and clinical development for the treatment of hematological malignancies as well as solid tumors. Its clinical stage assets GEM333, a T-cell engaging bispecific antibody (TCE) with binding specificity to CD33 in relapsed/refractory AML, and GEM3PSCA, a TCE with binding specificity to PSCA for the treatment of castrate-resistant metastatic prostate cancer and other PSCA expressing late-stage solid tumors, are currently investigated in Phase I studies and globally partnered with Bristol-Myers Squibb. Phase I studies of the lead UniCAR assets UniCAR-T-CD123 in hematological malignancies and UniCAR-T-PSMA in solid tumors are currently recruiting patients. Clinical proof-of-concept data were recently published in Blood and at key scientific meetings including the 3rd EHA-EBMT European CAR T-Cell Meeting and the 2021 AACR Annual Meeting. More information can be found at www.gemoab.com.
About Cellex Cell Professionals
Cellex Cell Professionals is a world leader in manufacturing hematopoietic blood stem cell products and a leading European manufacturer for CAR-T cell products, co-operating in that area with several large pharma and biotech companies. Their large, experienced collection centers and fully automated, audited and inspected GMP facility for UniCAR production support the worldwide distribution of cell products, including same-day delivery in the U.S. and Europe.
More information is provided at www.cellex.me.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding Intellia’s beliefs and expectations regarding: its strategy, business plans and focus; its ability to quickly and efficiently realize the scope and potential of its genome-editing technology; its ability to maintain, expand and maximize its intellectual property portfolio and pipeline as well as accelerate clinical validation for its platform; the therapeutic value and development potential of CRISPR/Cas9 gene editing technologies and therapies; its ability to combine its allogeneic T cell platform and CRISPR-based cell engineering with GEMoaB’s universal CAR-T platform; the expected strategic benefits of the formation of the new company and resulting collaborations; its expectations on the new company’s ability to develop CAR-T Cell therapies for immuno-oncology and autoimmune diseases and the timing and potential success of such therapies; its ability to optimize the impact of its collaborations on its development programs, including but not limited to its collaboration with Blackstone Life Sciences, Cellex, or the new company; its and the new company’s ability to enter into a license and collaboration agreement and co-development and co-promotion agreement; the new company’s use of capital, expenses, future accumulated deficit, future results, and ability to fund operations at least through the next 24 months.
Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks related to Intellia’s ability to protect and maintain its intellectual property position; risks related to Intellia’s relationship with third parties, including its licensors and licensees; risks related to the ability of Intellia’s licensors to protect and maintain their intellectual property position; uncertainties related to the authorization, initiation and conduct of studies and other development requirements for the new company’s product candidates; the risk that any one or more of the new company’s product candidates will not be successfully developed and commercialized; the risk that the results of preclinical studies or clinical studies will not be predictive of future results in connection with future studies; and the risk that Intellia’s collaborations with Blackstone Life Sciences, Cellex, or the new company or its other collaborations will not continue or will not be successful. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Intellia’s most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Intellia’s other filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release represent Intellia’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Intellia explicitly disclaims any obligation to update any forward-looking statements, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005618/en/
BLACKSTONE LIFE SCIENCES
Paula Chirhart
+1-347-463-5453
paula.chirhart@blackstone.com
GEMOAB and Cellex
Marika Geissler
+49-351-4466-45011
m.geissler@gemoab.com
INTELLIA:
Investor Relations:
Lina Li
Director
Investor Relations
+1-857-706-1612
lina.li@intelliatx.com
Media:
Julie Ferguson
(Interim) Head of External Affairs & Communications
+1-312-385-0098
julie.ferguson@intelliatx.com
media@intelliatx.com
https://ih.advfn.com/stock-market/NYSE/blackstone-BX/stock-news/85414909/blackstone-life-sciences-cellex-cell-professional
Investors3
3 years ago
Blackstone to Acquire International Data Group, a Leading Market Intelligence and Data Platform for the Technology Industry
June 03 2021 - 08:30AM
Business Wire
Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have entered into a definitive agreement to acquire International Data Group, Inc. (“IDG”) from Oriental Rainbow, LLC, a subsidiary of China Oceanwide Holdings Group, Co. Ltd. for an enterprise value of $1.3 billion.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210603005559/en/
Founded in 1964, IDG provides market intelligence for the fast-growing technology industry. For more than five decades, it has delivered proprietary insights and data for technology suppliers and buyers on every major shift in the technology market -- from the invention of the personal computer and launch of the iPhone to the emergence of cloud computing and artificial intelligence. This new ownership will allow IDG to invest significantly in additional opportunities for ongoing growth across its technology and product portfolio, including strategic acquisitions to extend its market leadership position.
Peter Wallace, Global Head of Core Private Equity at Blackstone, said: “The high-quality data, analytics, and insights IDG delivers to technology leaders are only becoming more critical as the pace of growth and innovation accelerates. IDG has a trusted brand and deep knowledge of tech suppliers and buyers, and our investment will help the company accelerate its plans for creating even more advanced product offerings across its business.”
Vikram Suresh, Managing Director at Blackstone, said: “As technology ecosystems become increasingly competitive and complex to navigate, the need for deep market intelligence has become a requirement for established and disruptive technology companies alike. We look forward to partnering with the IDG management team to build on the success they have had in delivering these capabilities to the world’s largest technology companies.”
IDG, Inc. and its subsidiaries have made multiple recent acquisitions to further increase its capabilities for its customers. In 2020, it purchased Triblio to expand its software-as-a-service platform and bolster its ability to support robust marketing activation programs. Last month, it acquired Metri to increase its rich IT pricing dataset, adding IT budget and operations benchmarking and sourcing services.
“Additional capital investment from Blackstone will allow us to cultivate our rich history of innovation and accelerate our product roadmaps to bring our customers the deeper insights and data they need to succeed in today’s rapidly evolving digital economy,” added Mohamad Ali, CEO of IDG. “The IDG management team is also excited for the growth opportunity this acquisition creates as we deliver even greater value to our customers.”
“As owner of IDG over the past several years, we have seen IDG grow and evolve rapidly,” said Brett Bing Liu, President of Oriental Rainbow. “During that time, IDG has significantly expanded its coverage scope and continues to provide world- class solutions to its global customers. We are very happy to see the transition of IDG’s ownership to Blackstone. With Blackstone’s investment, IDG will be able to deliver its next-generation products even faster to customers.”
Goldman Sachs & Co. LLC acted as exclusive financial advisor to IDG. King & Wood Mallesons acted as lead legal advisor and Mintz acted as co-legal advisor to IDG. Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $649 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone
About International Data Group
International Data Group, Inc. (IDG) is at the heart of technology, and we believe technology exists to make the world a better place. IDG has been ingrained in the industry for more than 55 years in every region around the world sharing trusted technology media, events, and research through IDC and IDG Communications. IDC’s research, data, advisory services, and events leverage more than 1,100 analyst experts worldwide to provide global and local expertise on technology and industry trends in over 110 countries. Our analysis and insight support IT suppliers, IT buyers, business executives, and the investment community in making fact-based technology decisions that help them achieve their business objectives. IDG Communications is a trusted editorial voice, creating quality content to generate knowledge, engagement, and deep relationships with our community of the most influential technology and security decision-makers. Our premium media brands, including CIO®, Computerworld®, CSO®, InfoWorld®, Macworld®, Network World®, PCWorld®, and Tech Hive®, engage a quality audience with essential guidance on the evolving technology landscape. Our global brands, proprietary 1st party data intelligence, and Triblio platform enable marketers to easily identify purchase intent and activate complex campaigns that drive business results. Additional information about IDG is available at https://www.idg.com/about-idg-inc/.
About China Oceanwide
China Oceanwide is a privately held conglomerate founded by Lu Zhiqiang. Headquartered in Beijing, China, Oceanwide's well-established and diversified businesses include operations in financial services and real estate assets globally.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210603005559/en/
For Blackstone:
Matt Anderson
Matthew.Anderson@Blackstone.com
518-248-7310
For IDG, Inc.
Lynn Holmlund
Lynn_Holmlund@IDG.com
508-254-8336
https://ih.advfn.com/stock-market/NYSE/blackstone-BX/stock-news/85278036/blackstone-to-acquire-international-data-group-a
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