The Carlyle Group announced that it has formed a joint venture with Bourne Partners to build a global pharmaceutical platform. This new venture, known as Phoenix Therapeutics, will be owned by Carlyle Partners VI, a $13 billion buyout fund, with a minority investment from Bourne Partners. Leveraging the financial resources and experience of Carlyle and Bourne, Phoenix Therapeutics will look to operate a pharmaceutical platform built through acquisitions.

Phoenix Therapeutics will consider a range of acquisitions, including product and asset acquisitions, corporate acquisitions and carve-outs.