Blackstone Life Sciences has agreed to provide Pfizer with up to $1.5bn through 2028 to support development of its experimental obesity treatment berobenatide, in return for payments linked to regulatory and commercial milestones. The investment will be made through funds managed by Blackstone Life Sciences and the firm’s perpetual private equity strategy, BXPE. Blackstone will not acquire ownership or development rights in the drug, with Pfizer retaining operational control. Berobenatide is an investigational monthly GLP-1 treatment, with Pfizer planning ten ongoing or forthcoming Phase 3 trials. The agreement expands the firms’ existing relationship, which included a $550m development financing arrangement in 2023.
British AI chip developer Fractile has raised $720m in a Series C financing led by Thrive Capital, Founders Fund, Lightspeed Venture Partners and Redpoint, valuing the business at $7bn according to Reuters. The financing also attracted backing from CapitalG, BlackRock, DST Global, Balderton Capital, the UK government’s Sovereign AI Venture Fund and the British Business Bank. Founded in 2022, Fractile is developing processors for AI inference, using a design that integrates memory and computing components to improve performance and energy efficiency. The company plans to launch its first commercial chips in 2027. The round follows an earlier financing in May, when Fractile was valued at about $1.1bn, according to the Financial Times.
HIG Capital has agreed to acquire a majority stake in go asia, Germany’s largest Asian food retail chain, partnering with its founding family to accelerate expansion across Germany and other European markets. Berlin-headquartered go asia operates more than 70 stores across over 30 German cities, employing more than 1,600 people and selling over 10,000 products. The founding family, led by Wengui Ye, will reinvest and retain a significant ownership stake, with Ye and the existing management team continuing to oversee the business. HIG, which manages $76bn in capital, plans to use its retail expertise and investment resources to expand the company’s store network, including entering new European markets. Founded in 2008, go asia operates stores in city centres, shopping centres and transport hubs, alongside an online retail business.
US private equity firm Quad-C has completed the sale of specialty chemicals manufacturer Boulder Scientific Company to fellow investment manager Iron Path Capital. Colorado-based Boulder Scientific produces high-performance organometallic compounds and provides complex synthetic chemistry capabilities for customers in industries including plastics, microelectronics, aerospace and defence. Quad-C partnered with the company’s founding family and management team to support its transition from family ownership and expand its operations. During its investment, Boulder Scientific strengthened its management team, invested in manufacturing capacity and broadened its technical and commercial capabilities, including expanding into semiconductor materials and aerospace and defence markets.
Waud Capital Partners has completed the sale of PromptCare’s infusion and specialty pharmacy business to AOM Infusion, following a five-year investment during which the operation increased revenue fivefold. The Chicago-based private equity firm acquired PromptCare in 2021 as part of its medication-based services investment strategy, working with executive partner Paul Jardina to expand the business through organic growth and acquisitions. Add-on deals included ARJ Infusion Services, PICC Lines Plus and Coastal Infusion Services. During Waud Capital’s ownership, the infusion business expanded from operating in 19 US states to all 50, doubled its pharmacy network to ten locations and established 17 ambulatory infusion suites.
Healthcare-focused private equity firm Ironleaf Capital has completed its inaugural investment, backing Healthcare Control Systems to support the expansion of its hospital operations technology platform. Founded in 2008, Healthcare Control Systems develops ORControl, software that integrates hospital IT systems and coordinates clinical staff, operating rooms, patient care and other resources in real time. Its technology is used by hospital groups including Ascension, CommonSpirit, HCA and the US Veterans Health Administration, with deployments across the US and Europe. Ironleaf, founded in 2025 by former Veritas Capital and Abry Partners executive T.J. Rose, will work alongside HCS co-founder and chief executive Dr Tom Feo to expand the company’s commercial operations and accelerate AI-driven product development.
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