2seventy Bio

2seventy Bio spun out of cell and gene therapy company Bluebird Bio in November 2021 to focus on immuno-oncology indications. It leverages various technologies including gene editing to develop novel cell and gene therapies. It uses its mega transcription activator-like (megaTAL) gene editing platform, which has 7 issued US patents, 1 pending US patent application, 26 corresponding foreign patents, and 3 corresponding foreign patent applications as of March 2022. 

As of March 2024, the company had eight programs in its pipeline, consisting of three Phase I clinical stage programs and five preclinical programs. It also has one B-cell maturation antigen (BCMA)-targeted Chimeric Antigen Receptors T (CAR-T) therapy ABECMA, which was approved by the FDA in March 2021 for the treatment of multiple myeloma. 

In March 2022 , the company scaled down around 6% of the workforce in an attempt to reduce overhead costs in less than five months since spinning out. 

Key customers and partnerships

Prior to the spin-out transaction, Bluebird Bio entered into several partnerships, of which the oncology-related partnerships were transferred to 2seventy Bio. This includes big pharma Bristol-Myers Squibb (2013) to develop therapies for oncology, which was later narrowed down to targeting anti-BCMA product candidates; Seattle Children’s Therapeutics (2015) to develop a therapy for pediatric acute myeloid leukemia (AML); and Regeneron (2018) to  develop novel cell therapies for cancer. 

In January 2024, the company partnered with JW Therapeutics to develop cell therapies for autoimmune diseases in China. Through the partnership, JW would initiate process development and the first-in-human trials in China of the CAR T-cell therapy, while both firms agreed to share the cost.

The company extended its partnership with Novo Nordisk in January 2022—building on a multi-year collaboration entered into between Novo Nordisk and Bluebird Bio in 2019—to develop an in vivo (gene editing done inside the body) therapy for hemophilia A (a genetic bleeding disorder). 2seventy was eligible to receive upto USD 40 million from Novo Nordisk in addition to specific milestone payments. Together with this partnership, the company partnered with Genevant Sciences to leverage its lipid nanoparticle (LNP) platform for therapeutic delivery. 

Funding and financials

2seventy Bio has been listed on the Nasdaq Global Select Market since spinning out of Bluebird Bio in November 2021. It raised USD 170 million in its latest post-IPO public offering in March 2022, and the proceeds were intended to fuel the company’s R&D efforts and for general working capital purposes. For 2021, 2seventy Bio generated a revenue of USD 54.5 million earned via its services, collaborations, and royalty.