Blackstone Credit & Insurance has led a $1.3bn financing to support the combination of Paratek Pharmaceuticals and Radius Health.

The transaction will create a scaled specialty pharmaceutical platform backed by B-FLEXION Life Sciences, bringing together complementary assets and expanding therapeutic capabilities.

Paratek is expected to generate nearly $1bn in annual revenue in 2026, reflecting the scale of the combined platform and its growth trajectory.

“We are pleased to support B-FLEXION and management in the creation of a scaled specialty pharmaceutical platform,” said Jonathan Brayman, Managing Director at Blackstone Credit & Insurance. “This transaction reflects our ability to provide large-scale capital solutions to life sciences companies.”

The financing underscores Blackstone’s continued expansion in private credit and structured capital solutions, particularly within healthcare and life sciences.

“We are proud to partner with Blackstone on this next phase of growth for Paratek, as it is a transformative transaction for both the organization and the broader platform,” said Peter Agnes, Operating Partner at B-FLEXION Life Sciences.

The deal highlights how private equity-backed platforms are leveraging large-scale financing to accelerate consolidation and growth in specialised pharmaceutical markets.

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