2seventy Bio, Inc. is taking a small initial payment to sell off its cell therapy pipeline to Regeneron Pharmaceuticals, Inc. amid a restructuring that is designed to allow the company to focus on its one marketed product, the Bristol Myers Squibb Company-partnered multiple myeloma CAR-T therapy Abecma (idecabtagene vicleucel). Meanwhile, the deal gives Regeneron an opportunity to become a cell therapy player on top of its rapidly expanding presence in immuno-oncology.
It’s All About Abecma As 2seventy Sells Off Pipeline To Regeneron In Restructuring
The cell therapy biotech will reduce its headcount from 280 to 65, with most of them – including two execs – going to Regeneron, which is paying just $5m up front to become a cell therapy player.
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