Blackstone Life Sciences Invests $250 Million in Anagram Therapeutics

The company will use the funds to speed up the development, approval, and launch of its ANG003.

Anagram Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of people with exocrine pancreatic insufficiency caused by cystic fibrosis, pancreatic cancer, and related conditions. Its lead therapy, ANG003, is a novel orally delivered enzyme replacement that has shown positive clinical results in patients with EPI due to cystic fibrosis and could become the first non-porcine-based treatment. The therapy also aims to reduce the heavy pill burden these patients currently face, which can be up to 40 pills per day.

Anagram Therapeutics has received over $30 million in funding from the Cystic Fibrosis Foundation, which has supported much of the clinical and development work for ANG003 to date. ANG003 is a novel oral, non-porcine enzyme replacement therapy being developed for people with cystic fibrosis and other conditions that cause exocrine pancreatic insufficiency (EPI).

People with EPI cannot produce enough digestive enzymes, leading to poor nutrient absorption, malnutrition, gastrointestinal symptoms, lower quality of life, and reduced life expectancy. These digestive issues are among the most challenging problems for people with cystic fibrosis. Based on positive early clinical results, Anagram is now starting an international Phase 2 study of ANG003 in patients with EPI due to cystic fibrosis.

"We believe Anagram is well-positioned to transform the treatment of pancreatic insufficiency, especially in patients of all ages who suffer from cystic fibrosis," said Dr. Nicholas Galakatos, Global Head of Blackstone Life Sciences. "This is an excellent case study of our ownership strategy where we bring scale capital, deep domain expertise, and hands-on engagement to help address large unmet medical needs."

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“We would like to thank the Blackstone Life Sciences team for their support and expertise as we accelerate the development of ANG003 and other orally delivered enzymes for people living with rare diseases. We believe the clinical data generated from the ANG003-22-101 study in patients with EPI due to CF is compelling and has the potential to be a transformational treatment for people living with EPI,” said Robert Gallotto, President and CEO, Anagram.

“We are excited to be working with the entire Blackstone Life Sciences team and would also like to acknowledge and express our gratitude to the CF Foundation and its President and CEO, Dr. Michael Boyle, for their continued support from the initial stages to advance ANG003, a much-needed treatment option for people with CF and others living with EPI.”

"The large unmet need in EPI is clear, as gastrointestinal symptoms and global supply issues for existing porcine-derived products continue to be a real problem. Patients today also face an enormous, disruptive pill burden, taking up to 40 pills a day to treat their EPI. We expect ANG003 only to require one tablet per meal, which we believe will positively impact compliance and quality of life," said Kiran Reddy, MD, Senior Managing Director, Blackstone Life Sciences. "ANG003 represents a meaningful advancement for the many patients affected by this condition, offering the potential to reduce treatment burden while improving clinical outcomes significantly. We are excited to work with the CF patient and clinical community."

About Blackstone Life Sciences

Founded in 1985 by Stephen A. Schwarzman, Blackstone Life Sciences (BXLS) is a leading private investment firm that invests across the full lifecycle of companies and products in the life sciences sector. It combines large scale capital with hands-on operational support to help develop new medicines and medical technologies that improve patient outcomes and it currently manages $17 billion in assets.

About Anagram Therapeutics

Founded by Robert Gallotto, Anagram Therapeutics is a clinical-stage biopharmaceutical company developing oral enzyme-based treatments for serious diseases caused by nutrient absorption and metabolism disorders. These conditions occur when the body cannot properly break down or absorb nutrients like fats, sugars, proteins, or vitamins due to enzyme deficiencies or genetic disorders. The company uses its proprietary enzyme technology and expertise in gastrointestinal diseases to develop new treatments that improve the lives of people with cystic fibrosis and other rare diseases.

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