2seventy Bio, Regeneron in Amended Collaboration

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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