Regeneron forms Regeneron Cell Medicines with acquisition of 2seventy bio
Betsy Goodfellow | January 31, 2024 | News story | Business Services | 2seventy bio, Pharmacy, Regeneron, Regeneron Cell Medicines, acquisition
Regeneron Pharmaceuticals has announced the formation of Regeneron Cell Medicines based on an agreement with 2seventy bio to acquire the full development and commercialisation rights to its pipeline of investigational novel immune cell therapies as well as its discovery and clinical manufacturing capabilities.
Under the terms of this agreement, Regeneron is expected to acquire full development and commercialisation rights to 2seventy bio’s preclinical and clinical stage pipeline and will take on the ongoing programme, infrastructure and personnel costs of these programmes. 2seventy bio will receive an initial payment of $5m and a single milestone payment for the first major market approval of the first approved product, as well as low single-digit percent royalties on revenues from the products.
It is expected that the transaction will close in the first half of 2024, subject to closing conditions.
George D Yancopoulos MD PhD, board co-chair, co-founder, president and chief scientific officer at Regeneron, commented: “Regeneron and 2seventy share a relentless commitment to push the boundaries of science in pursuit of therapies that can improve people’s lives. 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. 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.”
Betsy Goodfellow
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