Debevoise & Plimpton LLP has advised Precision Medicine Group (PMG), a leading next-generation provider of drug development and commercialization services, and its founders and shareholders in a major investment and recapitalization led by funds managed by Blackstone.

The investment includes significant participation from Precision’s co-founders, Ethan Leder and Mark Clein, as well as current shareholders Berkshire Partners, TPG Growth, Oak HC/FT, and Vida Ventures.

The new round of investment will fuel the expansion of PMG’s global footprint and technical capabilities to accelerate the development, approval, and commercial reach of breakthrough treatments from life science innovators.

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The Debevoise team advising PMG was led by partner E. Raman Bet-Mansour, and included partner Kevin Rinker, counsel David Iozzi, and associates David Becker, Shira Huberfeld and Thomas Lopez. Tax advice was provided by partners Rafael Kariyev and Gary Friedman, and associate Shanna Adler. Employment advice was provided by partner Franklin Mitchell and counsel J. Michael Snypes Jr. Competition advice was provided by partner Timothy McIver, counsel Kyra Bromley and associate Megan MacDonald.