Private equity jumps into life sciences in a big way

Private equity megalith Blackstone Group just bought its way further into the life sciences: It just acquired Clarus, a health care investment firm that’s raised some $2.6 billion since its 2005 inception. Clarus, which is based both in Boston and San Francisco, has invested in dozens of companies in the biopharma, medical device, and diagnostic spaces. Financial terms of the acquisition weren't disclosed.

"Private capital can play an important role in accelerating the lengthy clinical development process to help bring vital, but underfunded, drugs to market," Blackstone President and COO Jon Gray said in a statement.

Of course, Blackstone is hardly a health care rookie — it’s already invested more than $19 billion in the sector.

What’s up next? The formation of Blackstone Life Sciences, a private investment company focusing specifically on biopharma firms at all levels of drug development.