Autolus Therapeutics jumps on $250 mln investment by Blackstone unit

Autolus Therapeutics

08/11/2021 10:34

** U.S.-listed shares of British drug developer  AUTL.O 
gain 35% to $7.51 premarket - set for best day in almost 6
months if gains hold
    ** About 2x of 25-DMA shares traded; one of top three pct.
gainers, with heaviest volumes across exchanges before opening
bell
    ** Blackstone Life Sciences, a unit of private equity firm
Blackstone Inc  BX.N  will invest up to $250 mln in AUTL to
develop obe-cel, AUTL's cancer-targeting lead candidate
 urn:newsml:reuters.com:*:nGNX2s2chC
    ** Payment includes $50 mln upfront, $100 mln based on
milestones, and a $100 mln purchase of AUTL's American
Depository Shares (ADSs)
    ** Blackstone has also received the right to nominate a
director to AUTL's board
    ** AUTL is testing obe-cel, a cell therapy candidate, in
early- and mid-stage trials to target various forms of cancer,
notably acute lymphoblastic leukemia
    ** AUTL has declined ~38% this year through Friday's close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))