Press release
Regeneron Announces Formation of Regeneron Cell Medicines with the Acquisition of 2seventy bio Platforms and Preclinical and Clinical Programs
Regeneron to assume full development and commercialization rights for 2seventy bio’s preclinical and clinical stage cell therapy pipeline TARRYTOWN, N.Y.,
About this update from Regeneron Pharmaceuticals, Inc.
[{"type":"text","content":"Regeneron to assume full development and commercialization rights for 2seventy bio’s preclinical and clinical stage cell therapy pipeline\nTARRYTOWN, N.Y., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced the formation of Regeneron Cell Medicines based on an agreement with 2seventy bio, Inc. to acquire full development and commercialization rights to its pipeline of investigational novel immune cell therapies, along with its discovery and clinical manufacturing capabilities. 2seventy bio employees who support the acquired programs will join Regeneron Cell Medicines, a newly formed research & development (R&D) unit to advance cell therapies and combination approaches in oncology and immunology. “Regeneron and 2seventy share a relentless commitment to push the boundaries of science in pursuit of therapies that can improve people’s lives. Our expertise in antibody technologies and emerging genetics capabilities, combined with 2seventy’s cell therapy platforms, presents a significant opportunity to address cancer and other serious diseases in new and impactful ways,” said George D. Yancopoulos, M.D., Ph.D., Board Co-Chair, Co-Founder, President and Chief Scientific Officer of Regeneron. \"By integrating 2seventy’s pipeline of cell therapies and their talented team, we are complementing our own expertise and portfolio of innovative immuno-oncology treatments, which will allow for potentially transformative combinations that can really make a difference in patients’ lives.” In 2018, Regeneron and bluebird bio (which subsequently spun out 2seventy bio in 2021) entered into an agreement to leverage their complementary technologies to discover novel cell therapy approaches to address cancer. Under the original agreement, Regeneron had the right to opt-in to a co-development/co-commercialization arrangement for collaboration targets. Under the terms of the new agreement, Regeneron will acquire full development and commercialization rights of 2seventy bio’s preclinical and clinical stage pipeline and will assume ongoing program, infrastructure and personnel costs related to these programs. There will be an upfront payment of $5 million and a single milestone payment from Regeneron to 2seventy bio for the first major market approval of the first approved product. Regeneron will pay 2seventy bi...