PTC Therapeutics in $1 Billion Partnership

PTC Therapeutics Announces One-Billion-Dollar Collaboration PTC Therapeutics, Inc. (NASDAQ: PTCT) announced today that it has entered into a strategic financing collaboration with funds managed by Blackstone (NYSE: BX) to support at least one therapy mission every 2-3 years, enabling the company to continue delivering transformative medicines to patients worldwide. As part of the collaboration, funds managed by Blackstone Life Sciences and Blackstone Credit will provide PTC with an initial 350 million dollars in low-cost, non-dilutive capital, with a total commitment of 500 million dollars.

"Positioning PTC to Continue Fulfilling Our Mission"

Emily Hill, Chief Financial Officer of PTC Therapeutics, stated: "This strategic financing will support acceleration of PTC's robust and diversified pipeline, business development opportunities, and broader corporate objectives. Our strong internal drug development and commercialization efforts, combined with Blackstone's network and life sciences expertise, coupled with our track record in business development and value creation, positions PTC to continue fulfilling our mission." This collaboration with Blackstone builds on PTC's multiple innovative therapeutic platforms and its successful track record in providing transformative treatments to patients living with rare diseases. Blackstone's customized senior secured term loan investment is backed by Translarna^™, Emflaza^®, Upstaza^®, sepiapterin, and vatiquinone.   Source