With $250M from Blackstone, allogeneic CAR T start-up will bring together technologies from Intellia, Cellex

In the latest example of Blackstone’s move toward investing in growing biotechs with innovative programs, the firm has committed $250 million to launch a new company that will develop allogeneic CAR T cell therapies using platforms from Intellia and Cellex.

Those two companies and Blackstone Life Sciences (NYSE:BX) will each hold a third of the as-yet-unnamed start-up’s equity, Intellia Therapeutics Inc. (NASDAQ:NTLA) President and CEO John Leonard told a conference call Tuesday morning...