Bristol Myers Squibb to acquire 2seventy bio

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Bristol Myers Squibb has agreed a merger with 2seventy bio in a deal worth approximately $286 million.

“A year ago, 2seventy decided to exclusively focus on unlocking the value of Abecma, with the goal of delivering more time for people living with multiple myeloma and maximizing value for all stakeholders,” stated Chip Baird, Chief Executive Officer, 2seventy bio.

Alongside this newly proposed acquisition, Bristol Myers Squibb is developing the CAR T cell therapy Abecma in partnership with 2seventy bio. BMS is responsible for drug product manufacturing and commercialisation in ex-US territories.

Abecma is a B-cell maturation antigen (BCMA)-directed genetically modified autologous T cell immunotherapy, 2seventy bio highlighted. US FDA approved the cell therapy in 2021. The drug’s clinical development programme includes the ongoing clinical studies KarMMa-2 and KarMMa-3 in earlier lines of treatment for multiple myeloma.

“…We believe that Abecma will continue to benefit from BMS’ experience and resources to ensure this important therapy is delivered to patients who need it,” Baird added.

The deal is expected to close in Q2 of 2025 and is subject to customary closing conditions.

Bolstering its clinical portfolio

At the end of last year, Bristol Myers Squibb agreed a deal with BioArctic AB, where BMS will advance development of anti-amyloid-beta antibody treatments. As part of the agreement, Bristol Myers Squibb is accountable for development and commercialisation of investigations drugs BAN1503 and BAN2803 and related products globally.

“Our agreement with BioArctic has the potential to further strengthen and diversify our growing neuroscience portfolio, reinforcing our commitment to exploring novel and potentially transformative approaches for Alzheimer’s disease where high unmet needs remain,” Richard Hargreaves, Senior Vice President and Head of Bristol Myers Squibb’s Neuroscience Thematic Research Center, explained following the announcement.