2seventy Bio, Regeneron in Amended Collaboration
07 January 2023 - 2:13AM
Dow Jones News
By Colin Kellaher
2seventy bio Inc. on Friday said it inked an expanded
collaboration with fellow biotechnology company Regeneron
Pharmaceuticals Inc., including a $20 million equity investment at
a rich premium.
Cambridge, Mass.-based 2seventy said it sold more than 1.11
million shares to Regeneron at $17.94 apiece, a roughly 86% premium
to Thursday's closing price of $9.63.
2seventy said the amendment to the collaboration with Regeneron
will facilitate an expanded and accelerated development plan for
novel cell therapy-based combinations for solid tumors.
Regeneron, based in Tarrytown, N.Y., in 2018 launched the
collaboration with bluebird bio Inc., which spun off its oncology
programs into a new entity, 2seventy, in 2021.
2seventy shares were recently changing hands at $10.07, up
4.6%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 06, 2023 09:58 ET (14:58 GMT)
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