2seventy bio rose nearly 4% in pre-market trading! Its type A hemophilia project was acquired by Novo Nordisk
2seventy bio announced the completion of an asset purchase agreement, where Novo Nordisk will acquire 2seventy bio's Type A Hemophilia project and the rights to gene editing technology. This transaction will help enhance 2seventy bio's commercialization and continued development of Abecma. As of the time of publication, 2seventy bio's pre-market trading on Thursday rose nearly 4%
According to the latest news from Zhitong Finance APP, 2seventy bio (TSVT.US) announced the completion of an asset purchase agreement. Under the agreement, Novo Nordisk (NVO.US) will acquire 2seventy bio's hemophilia A project. In addition, Novo Nordisk will also acquire the rights to 2seventy bio's in vivo gene editing technology. This technology is used for autologous or allogeneic cell therapy of immune cells for the treatment of autoimmune diseases. 2seventy bio also stated that the 2seventy bio team currently involved in the project will join Novo Nordisk and continue to advance this technology. Boosted by this news, as of the time of publication, 2seventy bio's pre-market trading on Thursday rose by nearly 4%.
In return, 2seventy bio is eligible to receive a payment worth up to $40 million. 2seventy bio stated that this transaction will help enhance its commercialization and ongoing development of Abecma (idecabtagene vicleucel). Data shows that Abecma, developed in collaboration with Bristol Myers Squibb (BMY.US), is a BCMA-targeted CAR T cell therapy for multiple myeloma