Blackstone Life Sciences completed a $700m investment in Merck.

Blackstone Life Sciences, a private investment platform investing in companies and products within key life science sectors, completed a $700m investment in Merck, a global healthcare company that offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products. “This agreement positions Merck to harness the potential of sac-TMT, a promising ADC candidate targeting TROP2, while we continue to advance our broad and expansive pipeline. We are making important investments to drive patient impact and revenue growth, and to sustain our business for the future while remaining disciplined towards maintaining an appropriate financial profile,” Caroline Litchfield, Merck CFO.