Autolus Therapeutics to receive two $35M payments from Blackstone Life Sciences

Autolus Therapeutics announced that Blackstone Life Sciences has committed to make two pre-agreed milestone payments of $35M each to Autolus, totaling $70M. The milestones are expected to be recognized in Autolus’ Q4 cash balance. The first Blackstone milestone of $35M is being paid earlier than anticipated as a result of the joint steering committee’s review of Autolus’ interim analysis of pivotal FELIX Phase 2 clinical trial of obecabtagene autoleucel in relapsed/refractory adult Acute Lymphoblastic Leukemia, or ALL. The study has met its primary endpoint, the details of which have been announced in a separate press release. The second Blackstone milestone of $35M is a pre-agreed manufacturing milestone as a result of completion of planned activities demonstrating the performance and qualification of Autolus’ obe-cel’s manufacturing process. As previously announced, Autolus and Blackstone entered into a strategic collaboration and financing agreement in November 2021, whereby funds managed by Blackstone agreed to provide up to $250M in equity and product financing to support Autolus’ advancement of obe-cel, its CD19 CAR T cell investigational therapy product candidate, as well as next generation product candidates of obe-cel in B-cell malignancies.