Blackstone buys Australian clinical trials organization

Private equity funds managed by Blackstone () have entered into a definitive agreement to acquire contract research organization (CRO) Nucleus Network from Australian private equity firm Crescent Capital.

The value of the transaction was not disclosed. For its part, Melbourne-based Crescent Capital acquired Nucleus Network in 2018 from the Baker Heart and Diabetes Institute, an independent medical research institute, also for an undisclosed amount.

Nucleus Network conducts outsourced Phase I clinical trials -- the earliest-stage trials in humans -- for clients in the pharmaceutical and biotechnology industries. The company bills itself as Australia's largest CRO . . .

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