2seventy deal to bulk out Regeneron’s cell therapy pipeline

2 seventy – a 2021 spinout from bluebird bio – has sold its preclinical and clinical stage pipeline to Regeneron for an upfront payment of $5 million. The transaction, which is expected to close in the next few weeks, also includes a single milestone payment and low single-digit percent royalties on revenues generated by the products. 

Furthermore, Regeneron will augment its infrastructure by adding 2seventy’s Cambridge, Massachusetts clinical manufacturing facility, which has capacity to produce cell therapies for nearly 300 patients annually.

“Our expertise in antibody technologies and emerging genetics capabilities, combined with 2seventy’s cell therapy platforms, presents a significant opportunity to address cancer and other serious diseases in new and impactful ways,” said George Yancopoulos, CSO of Regeneron.  

“By integrating 2seventy’s pipeline of cell therapies and their talented team, we are complementing our own expertise and portfolio of innovative immuno-oncology treatments, which will allow for potentially transformative combinations that can really make a difference in patients’ lives.” 

The deal sees Regeneron founding its cell therapy division, Regeneron Cell Medicines, which will be bolstered by 150 2seventy employees. This includes Philip Gregory, the chief scientific officer of 2seventy bio, who will be appointed SVP and head of the offshoot business division. 

The deal is an expansion of a partnership forged in 2018, which saw Regeneron combine its tech with 2seventy’s parent firm bluebird bio’s platforms in the search for new cell therapy methods to treat cancer. 

According to 2seventy, the sale will allow the company to focus on Abecma (idecabtagene vicleucel), its anti-B-cell maturation antigen (BCMA) chimeric antigen receptor (CAR)-T cell therapy. Abecma, which is being co-developed by Bristol Myers Squibb and 2seventy, won US approval for multiple myeloma in 2021.

Moreover, the sell-off follows the cutting of 40% of 2seventy’s workforce in September 2023 in efforts to free up $130+ million. The decision was rooted in an expected decline in Abecma sales during the third quarter with revenue likely to be lower than previously anticipated.