Bristol Myers Squibb to Acquire 2seventy Bio in $286 Million Deal

The acquisition solidifies BMS's control over Abecma, a CAR T-cell therapy for multiple myeloma, as 2seventy Bio concludes its turbulent independent run.

• Bristol Myers Squibb (BMS) will purchase 2seventy Bio for $5 per share, an 88% premium over its last closing price, for a total equity value of $286 million.
• The acquisition will give BMS full ownership of Abecma, a CAR T-cell therapy for relapsed or refractory multiple myeloma, which the companies co-developed and commercialized.
• 2seventy Bio has faced financial difficulties since its 2021 spinoff from Bluebird Bio, including workforce reductions and a narrowed focus on Abecma to address mounting losses.
• Abecma generated $242 million in U.S. revenue in 2024, a 32% decline from the previous year, as competition from other therapies like Carvykti intensified.
• The deal is expected to close in the second quarter of 2025, pending regulatory approval and the tendering of a majority of 2seventy Bio's outstanding shares.

3 Articles

GEN Benzinga