The investment will help the company become premier provider of bio-derived products and critically needed injectables, according to Blackstone.
NantWorks and NantPharma chairman Patrick Soon-Shiong said NantPharm will be building the company together with Blackstone.
"We must have the highest quality standards for all biologically derived drugs," Soon-Shiong added.
"We must also enhance our capabilities to manufacture injectable and next generation drugs in America."
BlackStone senior managing directors Chinh Chu and Anjan Mukherjee said, "We have followed Dr. Soon-Shiong’s extraordinary career with much interest for nearly a decade and we see great opportunity working together with him at the leading edge of the healthcare industry, both in this exciting venture and other initiatives."