MedCity News March 11, 2025
Multiple myeloma cell therapy Abecma is the lone remaining asset of 2seventy Bio, which spun out from Bluebird Bio in 2021. 2seventy and Bristol Myers Squibb currently share in U.S. commercialization of Abecma.
Bristol Myers Squibb is acquiring 2seventy bio, a deal that gives the pharmaceutical giant full control over the partnered cancer cell therapy Abecma as that product faces headwinds in a competitive multiple myeloma market.
According to deal terms announced Monday night, BMS will pay $5 in cash for each share of 2seventy. That represents a 78.5% premium to 2seventy’s closing stock price on Monday, but it’s a far cry from the company’s $38 per share price when it debuted four years ago. The deal values 2seventy at...
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