Brief: 2seventy bio To Sell R&D Pipeline To Regeneron

2Seventy Bio

30/01/2024 12:09

Jan 30 (Reuters) - 2Seventy Bio Inc  TSVT.O :
    * 2SEVENTY BIO INC - EXPECTED ANNUAL COST SAVINGS OF
APPROXIMATELY
$150 MILLION IN 2024 AND $200 MILLION IN 2025; CASH RUNWAY
EXTENDED BEYOND 2027
    * 2SEVENTY BIO INC - CHIP BAIRD NAMED INCOMING CHIEF
EXECUTIVE
OFFICER; NICK LESCHLY NAMED INCOMING CHAIRMAN OF BOARD OF
DIRECTORS
    * 2SEVENTY BIO INC - COMPANY TO SELL RESEARCH AND
DEVELOPMENT
PIPELINE TO REGENERON TO LAUNCH REGENERON CELL MEDICINES
BUSINESS LED BY PHILIP GREGORY
    * 2SEVENTY BIO INC - TO FOCUS EXCLUSIVELY ON
COMMERCIALIZATION AND
DEVELOPMENT OF ABECMA, IN PARTNERSHIP WITH BRISTOL MYERS SQUIBB
    * 2SEVENTY BIO INC - AS PART OF THIS AGREEMENT,
APPROXIMATELY 160
2SEVENTY BIO EMPLOYEES WILL TRANSITION TO REGENERON
    * 2SEVENTY BIO INC - VICKI EATWELL WILL BECOME CHIEF
FINANCIAL
OFFICER
    * 2SEVENTY BIO-UPON CLOSING REGENERON WILL ASSUME 100% OF
ONGOING
PROGRAM, INFRASTRUCTURE AND PERSONNEL COSTS RELATED RESEARCH AND
DEVELOPMENT PROGRAMS
    * 2SEVENTY BIO INC - 2SEVENTY BIO, IN PARTNERSHIP WITH
BRISTOL
MYERS SQUIBB IS TAKING ACTIONS TO RETURN ABECMA TO COMMERCIAL
GROWTH IN 2024

Source text for Eikon:  ID:nBw2WD75Ka 
Further company coverage:  TSVT.O 

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