Regeneron Pharmaceuticals, Inc. completed the acquiistion of R&D pipeline from 2seventy bio, Inc..
April 31, 2024
Share
Regeneron Pharmaceuticals, Inc. (NasdaqGS:REGN) agreed to acquire R&D pipeline from 2seventy bio, Inc. (NasdaqGS:TSVT) on January 30, 2024. As of March 5, 2024, the transaction is expected to close in the first half of 2024.
Regeneron Pharmaceuticals, Inc. (NasdaqGS:REGN) completed the acquiistion of R&D pipeline from 2seventy bio, Inc. (NasdaqGS:TSVT) on April 1, 2024.As a part of consideration, Regeneron made an upfront payment to the Company of $5.0 million in cash and also assumed certain liabilities of the Company arising after the Closing Date, including liabilities (i) related to the conduct of the Programs, (ii) under transferred contracts and (iii) with respect to certain of the Company?s employees (collectively, the ?Assumed Liabilities?). In addition to the upfront consideration, Regeneron has agreed to pay the Company (i) a one-time $10.0 million milestone payment (?Milestone Payment?) upon the earlier of (a) the first receipt of regulatory approval and (b) the first commercial sale for the first product candidate within the Transferred Assets in certain specified countries and (ii) agreed-upon royalty payments (?Net Sales Payments?) based on net sales of the product candidates if commercialized. Regeneron has acquired all oncology and autoimmune research and development programs and has hired approximately 160 employees from 2seventy bio.
2seventy bio, Inc. is a cell and gene therapy company focused on the research, development, and commercialization of transformative treatments for cancer. The Company is focused on the commercialization and development of Abecma (idecabtagene vicleucel). Abecma is its B cell maturation antigen (BCMA)-targeted CAR T cell therapy for multiple myeloma, in collaboration with their partner Bristol Myers Squibb (BMS). ABECMA is a BCMA-directed genetically modified autologous T cell immunotherapy indicated for the treatment of adult patients with relapsed or refractory multiple myeloma after four or more prior lines of therapy, including an immunomodulatory agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody. Abecma uses a lentiviral vector (LVV), to deliver a chimeric antigen receptor (CAR), with the potential to program a patientâs own T cells to recognize the plasma cell specific BCMA, protein on the cell surface.
2SEVENTY BIO, INC. 
