Engine Capital pushes for changes at cancer therapy developer 2seventy bio (updated)

2Seventy Bio

06/12/2023 13:48

(Adds details from letter in paragraphs 2,3)
       Dec 6 (Reuters) - Activist investor Engine Capital on
Wednesday sent a letter to the board of cancer therapy developer
2seventy bio  TSVT.O , urging a board refresh and the
appointment of its chief operating officer Chip Baird as CEO,
among other changes. 
    Engine Capital, which owns about a 3% stake in 2seventy bio,
said the company should exclusively focus on its blood cancer
therapy Abecma, and explore ways to "immediately cease or
monetize all development programs". 
    2seventy bio did not immediately respond to a request for
comment. 

 (Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))