Blackstone Life Sciences announced a $250 million investment in Anagram Therapeutics, a clinical-stage biopharmaceutical company developing treatments for exocrine pancreatic insufficiency. The investment will fund development, approval and launch of Anagram's ANG003, an oral enzyme replacement therapy for patients with pancreatic insufficiency due to cystic fibrosis, pancreatic cancer and related disorders.

ANG003 is designed to require only one tablet per meal, compared to current treatments that require patients to take up to 40 pills daily. The therapy has demonstrated positive clinical data in people with exocrine pancreatic insufficiency due to cystic fibrosis and could become the first non-porcine extract product in this category.

The Cystic Fibrosis Foundation previously provided over $30 million in funding that enabled much of the clinical and development work for ANG003. Anagram is initiating an international Phase 2 study with the therapy after presenting positive data from an earlier clinical study.

Exocrine pancreatic insufficiency affects people who do not produce enough pancreatic enzymes to break down foods and absorb nutrients, potentially leading to malnutrition and gastrointestinal symptoms. Current treatments use pancreatic enzyme replacement therapies derived from pig pancreas glands, which face global product shortages. The current U.S. market for these treatments is approximately $2 billion annually.

ANG003 contains lipase for fat malabsorption, protease for protein malabsorption, and amylase for carbohydrate malabsorption. The therapy was engineered to be stable and immediately active in the gastrointestinal tract.

Blackstone Life Sciences manages $17 billion in assets and invests across life science sectors. Anagram Therapeutics is a privately held company headquartered in Natick, Massachusetts, according to the press release.