Swiss firm Ferring Pharmaceuticals and US based Blackstone Life Sciences have announced the joint investment of over $570 million in nadofaragene firadenovec (rAd-IFN/Syn3), an investigational novel gene therapy in late stage development for patients with high-grade, Bacillus Calmette-Guérin (BCG) unresponsive, non-muscle invasive bladder cancer (NMIBC).

FerGene, a new gene therapy company and Ferring subsidiary, has been created to potentially commercialize nadofaragene firadenovec in the US and to advance the global clinical development.

FerGene’s goal is to bring this promising therapy to a patient population which has seen little improvement in their standard of care over the past twenty years.

Blackstone will invest $400 million and Ferring will invest up to $170 million in FerGene. Ferring will also potentially launch and commercialize nadofaragene firadenovec outside of the US.

Nadofaragene firadenovec, currently in late Phase 3 development, has been granted Breakthrough Therapy designation and had its Biologics License Application (BLA) accepted for filing and granted Priority Review by the FDA.