BridgeBio Pharma, a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, announced strategic financing from Blue Owl Capital and CPP Investments, through a wholly owned subsidiary of CPPIB Credit Investments Inc., bringing in capital of up to $1.25 billion.
With these transactions, BridgeBio obtains financing from experienced healthcare investors who share the Company’s confidence in the anticipated launch of acoramidis as the potential backbone of therapy for transthyretin amyloid cardiomyopathy (ATTR-CM).
“We are excited to be working with a distinguished group of life sciences investors who are aligned with our view of acoramidis’ blockbuster market opportunity,” said Brian Stephenson, PhD, CFA, Chief Financial Officer of BridgeBio. “Our newly strengthened balance sheet will enable us to serve ATTR-CM patients with a well-resourced launch of acoramidis, as well as patients with genetic diseases more broadly with multiple Phase 3 readouts for blockbuster indications anticipated over the next few years. Our increasing patient impact should allow us to diversify drivers of top line revenue in the near term and enable reinvestment into R&D paired with opportunistic business development.”
“Blue Owl is well-positioned to provide bespoke and scaled financing solutions to the most consequential companies in the life sciences sector,” said Sandip Agarwala, Managing Director at Blue Owl Capital. “Acoramidis has demonstrated an impressive and differentiated clinical profile, and we believe it will be an important advancement in the treatment of ATTR-CM. Further, BridgeBio’s promising pipeline of late-stage targeted rare disease therapies address critical unmet needs in these underserved populations. We are pleased to support BridgeBio in its mission of bringing breakthrough medicines to patients.”
“This investment in BridgeBio represents an opportunity to provide structured capital solutions to an innovative company in the healthcare space and leverage CPP Investments’ deep capabilities in life sciences,” said David Colla, Managing Director and Head of Capital Solutions, CPP Investments. “Investments in leading therapies also help to diversify our capital allocations to income streams that are typically uncorrelated to the broader capital markets.”
Morgan Stanley & Co. LLC acted as sole structuring agent on the transactions. Latham & Watkins served as legal advisor to BridgeBio and Cooley LLP advised Blue Owl.
👉 BridgeBio Pharma Secures up to $1.25 Billion of Capital from Blue Owl and CPP Investments to Accelerate the Development and Launch of Genetic Medicines – bridgebiowp
